Multinational infrastructure group Balfour Beatty says the approval of HS2 provides critical visibility and impetus for the UK construction and its supply chain partners.
That’s the message on the company’s COVID-19 trading update which says the Group’s order book as of 30 April was £17.4 billion – over 20% higher than the prior year end position.
It says the increase is due to the addition of over £3 billion of HS2 contracts following Notice to Proceed in April. Balfour Beatty, in joint venture with VINCI, will deliver Lots N1 and N2 south of Birmingham. The work includes extensive earthworks, ground engineering, viaducts and tunnels along a 90km stretch – and the London hub station at Old Oak Common.
In the update, it’s also been revealed that Balfour Beatty has set up a New Normal Taskforce that has generated over 450 ideas from across the business through an employee engagement campaign.
These ideas are being taken forward for implementation under four strategic themes (working environment, new markets and capability, digital enhancement and rapid return to work) and will be incorporated to deliver operational and financial efficiencies.
Leo Quinn, Group Chief Executive, said: “These remain challenging and uncertain times. Our priority will always be the safety and health of all our employees, customers, partners and the public.
“Build to Last has made Balfour Beatty a resilient organisation with a high-quality order book and a strong balance sheet. As we navigate the Group through this exceptional year, we will maintain our focus on the longer term to ensure we are ready to capitalise fully on the significant opportunities in our chosen markets.”
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Photo credit: Balfour Beatty
