Balfour Beatty

Balfour Beatty has kicked off the New Year by launching more tranches of its share buyback programme, with an aim to complete £50m of repurchases from shareholders by May.  The UK’s biggest contractor has this week bought 404,476 ordinary shares at an average price per share of 343.9p through two separate transactions. …

Two contractors have signed a deal that could lead to them building a series of small modular nuclear reactors in the UK. Balfour Beatty and South Korea’s Hyundai Engineering and Construction Co signed a memorandum of understanding with energy firm Holtec Britain to work on the construction of a planned…

Profit at Balfour Beatty is set to exceed market expectations, while this year’s revenue is expected to top £8.4bn. In a trading update, the firm predicted a strong profit on the back of positive net interest income and the recognition of deferred tax assets, which it said would significantly reduce…

Balfour Beatty is set to begin construction work in the spring on two new roads bypassing the A57 near Manchester, after the government gave the project the thumbs up. Balfour was awarded a £108m contract in 2020 to build the roads, which are intended to ease congestion on the route…

The cost of building a new prison in Inverness, Scotland, has risen further, reaching more than double the original estimate. In February, when Balfour Beatty was appointed to the pre-construction and stage 1 design and build of HMP Highland, the cost was estimated to be £110m, up from a 2017…

Balfour Beatty’s Asian joint venture, Gammon Construction, has been awarded a £300m contract by Mandarin Oriental Hotel Group to construct an office building in Causeway Bay, Hong Kong. The contract is the latest in a string of contract wins for the joint venture, of which Balfour Beatty owns a 50…

The planned upgrade of a key section of the A66 has been deemed “poor value for money” by the Department for Transport (DfT) due to spiralling costs. The scheme to complete the dualling of the Northern Trans-Pennine route between the A1(M) at Scotch Corner and the M6 at Penrith is…

Balfour Beatty's south-east Asian subsidiary Gammon has clinched a job to build a residential development in Hong Kong worth £150m. Contracted on behalf of consortium Top Oasis, the firm will construct a 33-storey residential tower – providing 792 flats above the city's existing MTR metro line. Gammon will adopt Design…

Four big-name contractors have been appointed to a £1.3bn project to upgrade a key section of road in northern England. Balfour Beatty, Costain, Kier and Keltbray have signed an agreement to deliver the A66 Northern Trans-Pennine project. The deal will see the firms work together to dual remaining single-carriageway sections…

Balfour Beatty has today announced a raft of changes to senior roles. A statement from the company outlined the extra responsibilities being taken on by some of its top bosses. Chief executive for major projects Stephen Tarr has been named chief executive for transport, energy and power major projects, with…