Balfour Beatty

Balfour Beatty's chief financial officer Phil Harrison will step down from the board later this year following more than 10 years in the role, the infrastructure group said today. Following an extensive search process and as part of the board’s long-term succession planning, Myles Westcott, cu

Balfour Beatty has reported a strong financial performance in 2024, driven by improved margins in its UK construction business and steady growth across key sectors. However, an increased provision for building safety remediation has impacted overall profitability.

Balfour Beatty has reached an agreement for the conversion of its £375 million revolving credit facility (RCF) to the largest sustainability linked loan in the UK construction industry to date, extending the maturity to October 2024.

Balfour Beatty has agreed the sale of three UK assets from its Infrastructure Investments portfolio including the Aberdeen Western Peripheral Route (AWPR) and the Woodland View Hospital in Irvine.