Balfour Beatty is looking to break into the Brazil and India infrastructure markets as well as increasing its business in Canada, Australia and South Africa, the firm will announce today.
In a presentation to analysts today, the firm will set out how it wants to increase its presence in markets outside Europe and North America from 9% to 13% of group turnover in the short term, and 25% in the medium term.
The firm wants move away from buildings and focus on towards transport, rail, power, water and mining, which are proving “more resilient”, according to the firm. These sectors provide about 60% of Balfour Beatty’s order book.
Balfour Beatty chief executive Ian Tyler added the firm also hopes to shift more money into professional services.
“Successful implementation of our strategy will transition Balfour Beatty into a stronger player in our chosen verticals in both our current and target geographical markets which are expected to deliver better margins and sustainable growth.” said Tyler. “I am pleased with the progress we have made so far.”