- Admin
- #1
UK's Balfour Beatty forecast a higher profit from its core infrastructure businesses this year, with the company's CEO saying the results would be driven by faster-than-expected activity in the UK power sector and a pick up in U.S. orders. The company's shares were trading about 9% higher at 1152 GMT on Wednesday, topping the FTSE 250, helped in part by plans to return more money to shareholders via stock buybacks and dividends. Balfour's underlying profit from operations (PFO) rose 2% in 2023 to 236 million pounds ($302 million) from its earnings-based businesses, which excludes its investment portfolio.