Balfour Beatty (LSE:BBY), in its AGM trading update, covering 1 January to date, told investors that it continues to expect high single-digit percentage growth in profit from operations from its earnings‑based businesses in 2026, with no change to the guidance issued at the full year results in March.
The international infrastructure group said positive momentum and strong demand have continued into 2026, its contract mix is providing protection from inflationary pressures, and the forward order book at the end of Q1 remained in line with the year‑end position.
In UK Energy, the firm's power transmission business is delivering new schemes for National Grid, SSEN and Scottish Power, with 15 schemes in design and the majority expected to enter construction in the next 18 months when full value will be added to the order book.
In US Buildings, the group won a c$270 million Fort Carson redevelopment to build c400 homes, a $150 million data centre and a $140 million California high school.
In UK Transport and Support Services, the group secured a £138 million dual carriageway contract and a £315 million seven‑year Warwickshire highways maintenance contract with an option that could take the total value to £900 million.
Balfour Beatty said it has started multiple pursuits for major Defence Nuclear Enterprise construction frameworks in the UK as it targets further defence market share.
In Asia, Gammon added a new Northern Metropolis train station and a Lantau Island residential scheme, with Balfour Beatty's 50% share totalling c£330 million.
Average monthly closing net cash over the first three months of 2026 was £1,554 million (FY 2025 average £1,212 million, 2025 closing £1,446 million), and the Board continues to expect 2026 average net cash in the range of £1.3–£1.5 billion.
The £200 million share buyback remains on track for completion by the end of the year, with approximately £54 million executed to date.
The update was released ahead of the group's Annual General Meeting today.
