For five years in a row now Balfour Beatty has been on the rise and in 2025 group revenue聽 grew by 7% to reach 拢10,767m (2024: 拢10,015m).
Pre-tax profit was up by 50% at 拢323m (2024: 拢214m), although the underlying figure for pre-tax profit was virtually unchanged from 2024. The 2025 result benefited from a non-underlying credit of 拢25m while the 2024 accounts took a charge of 拢49m.
For a fifth consecutive year, Balfour Beatty achieved profitable growth from its earnings-based businesses (萝莉原创 Services and Support Services) and it was the UK 萝莉原创 business that led the way.
2025 was also the fifth year in a row that Balfour Beatty's UK 萝莉原创 division delivered an improved operating profit margin, up from 2.7% in 2024 to 3.5%.
Revenue in UK 萝莉原创 increased by 3% to 拢3,112m (2024: 拢3,011m) driven largely by higher volumes in the energy sector. Underlying operating profit from UK 萝莉原创 was up 35% at 拢110m, including a one-off 拢11m insurance recovery. Even discounting that one-off gain, the margin was 3.2% and so still beating the 3% target.
The UK 萝莉原创 order book grew by 44% in 2025 to 拢8.9bn (2024: 拢6.2bn), driven largely by the work won at Sizewell C nuclear power station and the Net Zero Teesside carbon capture project
Revenue in US 萝莉原创 increased by 24% to 拢4,509m (2024: 拢3,638m) but underlying profit from operations for US 萝莉原创 reduced by 38% to 拢25m (2024: 拢40m) with the cost of schedule delays at one US Civils highways project in Texas more than offsetting strong performance from the US Buildings business.
Gammon, the Hong Kong joint venture with Jardine Matheson, contributed 拢1,090m in revenues (2024: 拢1,550m) with an underlying profit of 拢36m (2024: 拢38m).
For the group as a whole, average net cash increased to 拢1,212m (2024: 拢766m) and further profitable growth is forecast for 2026 and 2027.聽
New chief executive Philip Hoare said: 鈥淪ince joining in September, I鈥檝e been truly impressed by the depth of talent across Balfour Beatty and the inherent strength of the group. Our capabilities, the quality of our order book and our disciplined approach to risk provide a powerful foundation for the future.
聽鈥淚n 2025, the group delivered on expectations with further earnings growth, fuelled by strong operational performance and momentum in chosen growth markets, where our end-to-end expertise, proven delivery and long-standing customer relationships continue to differentiate Balfour Beatty.
聽鈥淎s the industry faces unprecedented demand and a widening skills gap, we鈥檒l continue to invest in our people and in technology, driving further gains in productivity and operational excellence. Supported by a robust balance sheet and a resilient diverse business model, we are incredibly well positioned to respond to market dynamics, accelerate profitable growth, improve margins and drive value creation for our customers, communities, and shareholders.鈥�