From Morningstar:

Shares in Balfour Beatty rose 8.3% to 368p as the company announced a share buyback following a 15% drop in pre-tax profits for 2023. Revenue increased by 7.4% to £9.60 billion, with a final dividend increase of 14%. Despite lower planned returns for 2024, the company expects profit growth in 2025.

CEO Leo Quinn expressed confidence in Balfour Beatty’s ability to generate sustainable cash and significant returns for shareholders. The company reported increased revenue and profit from its earnings-based businesses, with a strong order book of £16.5 billion. Growth is expected to accelerate in 2024, particularly in energy, transport, defense in the UK, and buildings in the US.



Read more at Morningstar: Balfour Beatty Shares Bounce 7% on Fresh Buyback