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| Balfour Beatty reports strong performance UK-based global construction giant Balfour Beatty issued the Interim Management Statement, covering the period 28 June to 10 November 2009. The balance sheet and general financial position remain strong, with average net cash in excess of £260 million. In the period Balfour Beatty completed the acquisition of Parsons Brinckerhoff which was substantially funded by a rights issue and, in addition, had net cash on acquisition of $188 million (£114 million) At the end of September 2009, the order book was in line with that reported at the half-year and coverage for next year is at a similar level compared with this time last year. With the addition of Parsons Brinckerhoff's order book of US$1.95 billion (£1.2 billion), the confirmed order book total for the Group is therefore now around £13.7 billion. write your comments about the article :: © 2009 Construction News :: home page |