The Only Way Is Up for Balfour

The Week: Morningstar columnist Rodney Hobson has high hopes for Balfour Beatty but worries he is overexposed to some UK sectors

Rodney Hobson 16 August, 2019 | 9:19AM

bouncy ball

Of all the shares in my portfolio, Balfour Beatty (BBY) has been most in and out of profit over the past few years. Recently it has been showing a loss on my purchase price, though one that has been mitigated by dividends received. At last the shares seemed to have bottomed out and I feel more hopeful.

Balfour Bounce

Results for the half year to 28 June showed underlying profits up 9%. Net cash averaged £290 million, significantly more than the £161 million recorded in the previous first half. New guidance suggests that the current level will be maintained. That should allay some fears after rivals have run into financial difficulties

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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.

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