LONDON (dpa-AFX) - Balfour Beatty plc (BBY.L), on Thursday, reported that overall trading for the period 1 January 2022 to date has been in line with expectations, including continued strong cash performance.
At the end of March, the Group's order book was £15.6 billion versus £16.1 billion in December 2021.
Over the first four months of 2022, the average monthly closing net cash balance increased to around £800 million. On completion of the 2022 share buyback, and some expected normalisation of working capital, average monthly net cash for the full year is expected to be moderately lower than the first four months of the year.
As part of its multi-year share buyback programme, through the first four months of the year, the Group has acquired just under £19 million of its shares and expects to complete the full £150 million share buyback for 2022 by year end.
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