Balfour Beatty reporting change
16 June 2011
Balfour Beatty, the international infrastructure group, announces that Balfour Beatty Plant & Fleet Services has been transferred from Construction Services into Balfour Beatty WorkPlace in Support Services as of 1 January 2011. It is recognised that Plant & Fleet Services has a wide-ranging customer base across Balfour Beatty in the UK and that its activities are a complementary strategic fit within the Support Services division.
There is no change to the operating numbers at the Group level; however, the Group’s IFRS 8 Operating Segments analysis does require restatement, with a re-allocation of Group revenue (£9 million) and profit from operations (£11 million) for the year ended 31 December 2010 from Construction Services to Support Services. The Group revenue movement is small in relation to profit from operations due to the intercompany nature of the majority of the Plant & Fleet Services revenue.
Unaudited segmental schedules showing the effect of these restatements for Construction Services and Support Services are appended to this press release.
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Notes to Editors:
Balfour Beatty (www.balfourbeatty.com) is a world-class infrastructure group with capabilities in professional services, construction services, support services and infrastructure investments.
We work in partnership with our customers principally in the UK, continental Europe, the US, South-East Asia, Australia and the Middle East, who value the highest levels of quality, safety and technical expertise.
Key infrastructure markets include transportation (roads, rail and airports); social infrastructure (education, specialist healthcare, and various types of accommodation); utilities (water, gas and power transmission and generation) and commercial (offices, leisure and retail).
The Group delivers services essential to the development, creation and care of these infrastructure assets including project design, financing and management, engineering and construction, and facilities management services.
Balfour Beatty employs 50,000 people around the world.