Balfour Beatty Beats Expectations

Balfour shrugs off investor concerns about the outsourcing sector with a 31% dividend hike 

14 August, 2019 | 10:57AM
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Balfour Beatty

Shares in FTSE 250 construction and infrastructure firm Balfour Beatty (BBY) surged after half-year profits beat expectations. The 10% rally comes after a period of weakness for the company’s shares, which are down from around 300p earlier this year to 217p, a fall of nearly 30%.

The company has been engulfed by the woes of the outsourcing sector after the demise of Carillion last year. Sector rival Kier (KIE) is one of the most shorted stocks on the FTSE, and 1.5% of Balfour stock is being shorted by the Canadian Pension Plan and a hedge fund spun out from Man Group, AHL Partners. The shares rose 10% to 221p after the results.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
Balfour Beatty PLC278.20 GBX0.29
Kier Group PLC122.60 GBX-1.61

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