LONDON (dpa-AFX) - Balfour Beatty plc (BBY.L) said it expects that it will deliver results in line with the Board's expectations for the full year.
The company projects group profit from operations to be in line with the board's expectations.
Full year Group revenue is expected to be in line with the prior year's 8.4 billion pounds.
The year-end order book is expected to be around 17 billion pounds, significantly higher than last year's 14.3 billion pounds.
Balfour Beatty said its sustainability strategy, Building New Futures, charts a course for 2040 ambitions to go beyond net zero carbon, generate zero waste and positively impact more than 1 million people.
For 2030, the Group has formally committed to setting a science-based target to reduce carbon emissions and is guiding to a 40% reduction in tonnes of waste generated per 1 million pounds of revenue and 3 billion pounds social value generated over the next decade.
The company noted that current Chair, Philip Aiken, plans to step down from the Board of Directors at the next Annual General Meeting in May 2021. The search for a replacement is in progress.
Balfour Beatty stated that its internal investigation is substantially complete, and all findings have been passed to the Department of Justice. The company's external counsel is engaging with the Justice Department, with the intention of seeking resolution during the first half of 2021.
The company plans to pay a final dividend at the group's full year results, despite the impact of COVID-19.
The company also intends to commence an initial 50 million pounds share buyback program from January 2021.
Balfour Beatty continues to expect that the earnings-based businesses will report a more normalised operating profit in 2021, broadly in line with 2019. The company expects to re-commence disposals from its Infrastructure Investments portfolio in 2021.
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