News Releases
Balfour Beatty plc Preliminary Results for the year to 31 December 2005
08 Mar 2006ANOTHER YEAR OF PROGRESS IN BUILDING SHAREHOLDER VALUE
Financial Summary
| 2005 | Pro forma† 2004 | 2004 | |
| Revenue including joint ventures and associates | £4,938m | £4,239m | £4,239m |
| Pre-tax profit from continuing operations - before exceptional items - after exceptional items | £134m £141m | £107m £106m | £122m £120m |
| Earnings per share - adjusted* - basic | 24.1p 24.9p | 22.1p 58.7p | 22.5p 57.4p |
| Financing - net cash before PFI/PPP subsidiaries (non-recourse) - net borrowings of PFI/PPP subsidiaries (non-recourse) | £315m £(14)m | £311m £(244)m | £311m £(244)m |
| * | before exceptional items and the premium arising on the buy-back of preference shares, and including the results of discontinued operations |
| † | including the impact of IAS 32 and IAS 39 on 2004 numbers |
Highlights
- Comparable pre-tax, pre-exceptional profits up by 25%† to £134 million
- Strong operating cash performance
- Comparable adjusted earnings per share* up by 9%† to 24.1p
- Order book increased by 12% to £7.6 billion
- Three PPP concessions reach financial close
- US civil engineering returns to profit
- Directors’ valuation for PFI assets of £289 million
- Final dividend of 4.6p, full-year dividend up 23% at 8.1p
“We have record order books and a number of preferred bidder positions. Our major markets are healthy and continue to offer substantial opportunity. We are clear about our priorities for the continued development of the business in both the medium and long term and have the proven management capability to deliver. We are confident that we can continue to make progress in 2006.”
| Sir David John, Chairman | Ian Tyler, Chief Executive |
View the full Preliminary Results 2005 (PDF, 176 KB)
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