Balfour Beatty said it has a £15bn order book and forecasts trading will remain in line with expectations, according to today’s trading update.
The group predicted that its core markets, in construction, would remain “difficult” but saw positive medium and long-term prospects in infrastructure markets.
Support services and US construction order books increased through 2011, while the UK construction order book contracted.
Average net cash for the year was £200M reflecting investments completed and cyclical unwind of working capital. Year-end net cash was at a similar level to that at the half-year.
The update was issued ahead of its results for the year to 31 December 2011, which will be announced on 8 March.