Balfour Beatty Raises Profit Guidance as Shares Hit Record High

Shares of Balfour Beatty reached a record high, jumping approximately 10%, after the company reported strong first-half financial results and upgraded its full-year guidance. The FTSE 250 construction firm saw underlying profit from operations (PFO) rise 42% to £153 million for the half-year ending June 26, 2026, while pre-tax profits increased 46% to £139 million on revenues of approximately £5 billion.

Growth was primarily driven by strong performance in UK power transmission and US buildings construction, alongside reduced losses in its US civils business. The company is currently executing major UK projects including Hinkley Point C, Sizewell C, and Net Zero Teesside, and recently secured a £325 million contract from Scottish and Southern Electricity Networks for the Netherton Hub. Meanwhile, the firm is renegotiating existing work terms with High Speed Two (HS2) Limited.

Based on this momentum, the company raised its PFO growth forecast for earnings-based businesses from high single-digit to low double-digit percentage growth. It also increased its average net cash guidance by £200 million to a range of £1.5 billion to £1.7 billion and raised its interim dividend to 4.7 pence per share. The group is currently executing a £200 million share buyback programme and maintains an order book of approximately £23 billion, focusing on UK energy transition, defence, and transport.