Full Year Results 

Balfour Beatty improves margins

Balfour Beatty improves margins

Construction companies with wafer-thin margins and lots of debt made investors nervous in the wake of the Carillion collapse, so Balfour Beatty (BBY) should come as a breath of fresh air. Net debt is a nominal 6 per cent of total equity, while operating margins are now up to industry standards, rising in the second half of 2018 to 2.4 per cent in UK construction, 1.5 per cent in the US and 5.2 per cent for support services.

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