Balfour issues solid trading update

Infrastructure group Balfour Beatty has an order book of £15bn and an improved cash position compared to the end of 2009, the company said in a trading statement today.

The company, which has offices in Sale and Warrington, said it was "well-placed…to benefit from the long-term growth in global infrastructure spending."

Balfour's cash position "remains strong, with average cash in the second half of the year [financial year end 31 December 2010] exceeding £400m, compared to £342m for the same period in 2009."

The construction market in the UK remains weak in parts, Balfour said, but the company "benefited from good operational performance and ongoing tight control of costs."

Balfour recently agreed contracts on new schools programmes in Derby, Ealing and Oldham.

Shares in the business edged up 1p to 327p.

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