Hobson: It is Not too Late to Buy into the Balfour Recovery

THE WEEK: Morningstar columnist Rodney Hobson on Balfour Beatty, Lookers and recent market turbulence

Rodney Hobson 18 August, 2017 | 9:57AM
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Balfour Beatty worker in London

We all make mistakes. The important thing is to learn from them. Construction group Balfour Beatty (BBY) has learnt from the mistakes that emerged with a series of profit warnings a couple of years back. Indeed, the problems caused by chasing unprofitable contracts now seems to have happened much longer ago.

Balfour has swung decisively back into profit in the first half of 2017 and the results are better even if one ignores the write-offs against lossmaking contracts in the previous first half. The interim dividend is raised from 0.9p to 1.2p.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
Rating
Balfour Beatty PLC257.20 GBX-0.16
Lookers PLC64.60 GBX-0.77
Marshall Motor Holdings PLC282.00 GBX-2.76

About Author

Rodney Hobson

Rodney Hobson  is a columnist for Morningstar.co.uk and author of several investing books, including The Dividend Investor and How to Build a Share Portfolio.