LONDON (dpa-AFX) - Balfour Beatty Plc (BBY.L), an infrastructure group, Wednesday reported pre-tax profit of 112 million pounds for the first half, higher than 82 million pounds in the same period of the previous year, mainly driven by increased revenue.
Underlying pre-tax profit increased to 98 million pounds from 97 million pounds a year ago.
Profit from operations was 91 million pounds, up from 65 million pounds in the prior year, while underlying operating profit declined to 77 million pounds from 80 million pounds due to increased Infrastructure Investments costs.
Net profit rose to 96 million pounds or 18.1p per basic share from 63 million pounds or 11.1p per basic share last year.
Underlying profit was 81 million pounds or 15.3p per basic share, up from 74 million pounds or 13p per basic share a year ago.
Revenue for the period grew to 4.677 billion pounds from 4.527 billion pounds in the previous year.
The Board has declared an interim dividend of 3.8 pence per share, up from 3.5 pence per share last year. The dividend will be paid on December 6 to shareholders of record on November 1.
Looking ahead, the company continues to expect growth in underlying earnings in 2024, with growth accelerating in 2025.
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