Balfour Beatty sells hospital stake

Balfour Beatty has sold its 50% interest in the Salford Hospital PFI asset to a subsidiary of HICL Infrastructure Company for £22.0m, generating a profit of £11.5m.

Balfour Beatty said proceeds exceed the directors' valuation by £8.3m. Andrew McNaughton, chief executive, said: "It is pleasing to see that our strategy of regular asset disposals to release some of the accumulated value in our portfolio continues to deliver additional income and cash to the group.

"With the completion of the Salford Hospital sale, we have achieved £80.5m of proceeds and £44.9m of gains on PFI disposals so far this year."

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