Balfour trading to be at top end of expectations
Construction firm Balfour Beatty said on Thursday that had underwritten placing of new ordinary shares in order to raise around £180 million.
Balfour Beatty acquires US military accommodation unitThe move is intended to deliver incremental growth through additional bolt-on acquisitions and organic growth opportunities for the company.
Balfour said that it had a strong and growing order book at the end of the year, worth £11.4 billion. The company added that its core UK and US infrastructure businesses had seen substantial growth momentum.
Trading for the company in 2008 was reported as being strong and is likely to be at the top end of expectations.
Sir David John, chairman of the company, said, "We anticipate that order intake and trading performance will remain strong during the course of 2008 and that we will continue to add to our long-term earning power through investment and acquisition. We anticipate that 2008 performance will be at the top end of current expectations."
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