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Balfour Beatty plc Preliminary Results for the year to 31 December 2001

• Pre-tax profits* up by 20% at £103 million (2000: £86 million)
  
• Additional £13 million net exceptional profit from cables disposals
  
• Earnings per share* up by 32% to 14.4p (2000: 10.9p)
  
• £63 million year-end net cash – strong operating cashflow
  
• Record order book of £4.3 billion
  
• Acquisitions strengthen core businesses and perform to plan
  
• Total dividend up by 11% to 5.0p (2000: 4.5p)

Building, Building Management and Services

• Operating profits* up 13% to £44 million
  
• Continuing growth in building management, maintenance and security systems

Civil and Specialist Engineering and Services

• Operating profits* down 8% to £22 million
  
• Growing position in road and utility maintenance systems

Rail Engineering and Services

• Operating profits* up by £18 million to £24 million
  
• New contract structure in place for UK maintenance
  
• Acquired and UK project businesses perform to plan

Investments and Developments

• Operating profits* up 12% to £46 million
  
• Three preferred bidder situations expected to reach financial close in 2002

* before exceptional items and goodwill amortisation

Outlook

“Once again, we start the year with a record order book, a sound financial position, a clear sense of direction and excellent morale. We have strengthened the business further through carefully targeted acquisitions.

“I believe that our improving combination of first-class engineering, construction and service skills applied to our core markets gives us a strong basis on which to continue to grow shareholder value, this year and in the future.”

Viscount Weir, Chairman

Enquiries to:

Mike Welton, Chief Executive
Ian Tyler, Finance Director
Tim Sharp, Head of Corporate Communications

Tel: 020 7216 6800
www.balfourbeatty.com

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To see the full Preliminary Results for the year to 31 December 2001 click here: Preliminary Results 2002 (PDF, 519 KB)

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