11th May 2006 11:45
Balfour Beatty PLC11 May 2006 11 May 2006 BALFOUR BEATTY PLC AGM STATEMENT ============= Reporting to shareholders at the Annual General Meeting of Balfour Beatty plc,the international engineering, construction and services group, Chairman, SirDavid John, said: "As is our customary practice, I would like to update you on trading so far thisyear. "I am pleased to report to shareholders that trading in 2006, to date, is inline with expectations. Order intake has been strong in the year so far. Ourorder book now tops £8 billion and will shortly be augmented by the confirmedcontracts arising from the financial close of the Birmingham Hospital PPPconcession. Last month we entered a pre-qualification submission, as part of theG3 group, for the role of Delivery Partner to the ODA in respect of the 2012London Olympics. "In our Building sector, early progress has been good, with continuing growth inexpenditure on affordable housing and a number of sizeable contract wins in bothpublic and private sectors. The acquisition of Charter, the US constructionmanagement and services company, was completed in late March. "In Engineering, progress is also good. Balfour Beatty Power Networks hassecured several major new orders and RCS, the road management and maintenancecompany, has been successful in extending two of its long-term local authoritycontracts. "In Rail, good progress continues on major works at Heathrow Terminal 5 and ontrack renewal work for Network Rail and London Underground. Market conditions inEurope and the USA remain unchanged. The acquisition of Edgar Allen, the railtrack products manufacturer, was completed in March. "In Investments and Developments, concession performance is as anticipated.Financial close was reached in early April on the Birmingham Schools project.Also in April, it was announced that our PPP concession for Birmingham Hospitalhad successfully passed a Treasury Review. Financial close on this project isanticipated in early June. "As stated in our Annual Report, we expect to make progress in 2006 in line withexpectations and to continue to generate secure, sustainable income from ourpartnerships with customers in the public and private sectors." ENDS Enquiries to: Tim SharpTel: 020 7216 6884www.balfourbeatty.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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