Balfour Beatty PLC
2 May 2001
2 May 2001
BALFOUR BEATTY PLC
AGM STATEMENT
Reporting to shareholders at the Company's Annual General Meeting, Chairman,
Lord Weir, said:
'As is usual, I would like to take this opportunity to update shareholders on
the Company's progress.
'During the first part of the year, both the level of order intake and
progress on existing contracts has been satisfactory, although, as a matter of
detail, our transmission line business has had work on its UK projects
suspended during the foot and mouth crisis.
'On a more positive note, we anticipate being able to announce a number of
sizeable new contracts in the rail sector in the near future.
'Shareholders will note from the Annual Report that, during 2000, the Company
took a number of initiatives to further develop its policies and practices in
the area of corporate responsibility. This momentum will be continued and,
next year, we intend to accompany the publication of the Annual Accounts with
a separate report on environmental and related issues.
'Financial performance is broadly in line with expectations. The likely
pattern of completions and settlements, taken together with the timing of the
renewal of rail maintenance contracts, means that operating profits will be
weighted towards the second half of the year.
'To sum up, I therefore see no reason, at this stage, to depart from or to
qualify what was said in our Report and Accounts regarding our prospects for
the year as a whole.'
ENDS
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