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Disappointing civils profits hit Balfour Beatty and Amec

NEWS

WEAK CIVIL engineering profits hit the performances of contractors Balfour Beatty and Amec, according to results published last week.

Balfour Beatty said its civils division was hit by foot and mouth restrictions that hampered work on rural sites during the first half of the year. It added that government plans to boost infrastructure spending had so far failed to produce new projects.

Amec reported a small improvement in margins from its capital projects division, but said its performance had been hit by a change of focus towards selective bidding and negotiated work.

Operating profits from Balfour Beatty's civils division fell to £22M from £24M in 2001, on turnover which was static at £1bn.

Balfour Beatty group pre-tax profits increased to £103M from £86M, while turnover rose from £2.34bn to £2.73bn. Group profits were boosted by strong performances in the rail engineering and building and building management divisions.

Amec's construction management division produced a £1.1M operating profit last year compared to a £2.9M loss on turnover down from £683.5M to £625.1M.

Group pre-tax profit increased to £116.7M from £98.9M on turnover of £4.5bn, up from £3.98bn, supported by strong growth in technical support services for clients.

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