13th Mar 2025 09:18
Balfour Beatty PLC - London-based infrastructure construction - Confirms it will buy back GBP125 million in shares during 2025. This total includes the GBP50 million buyback announced back in January. The 2025 buyback plan was first announced with Balfour's 2024 results on Wednesday. Pretax profit fell by 12% due to a charge relating to the UK Building Safety Act, but underlying profit rose by 11%. The new fire safety rules require the removal of flammable cladding from tall buildings and were put in place in response to the fatal Grenfell Tower fire in London in 2017. Balfour also announced a 9% increase to its cash dividend for 2024.
Current stock price: 456.20 pence, up 0.7% early Thursday in London
12-month change: up 23%
By Tom Waite, Alliance News editor
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