Balfour Beatty maintains final dividend. Full year 2012 dividend up 2%

DividendMax Ltd.

Balfour Beatty maintains final dividend. Full year 2012 dividend up 2%

Highlights

Order book up 1% at £15.3bn with 63% now economic infrastructure

Revenue down 1%; down 4% before the impact of foreign exchange and acquisitions

Continuing profit growth in Professional Services and Investments

Cost efficiency programme on track to achieve £80 million by 2015; £36 million of savings achieved at a non-underlying cost of £61 million in 2012

Directors' valuation of the PPP portfolio at £734 million (2011: £743 million) after the disposal of two assets generating disposal gains of £52 million

Strategic decision taken to divest of Mainland European rail operations; non-underlying cost of £104 million incurred including £95m goodwill write down

Underlying earnings per share down 1%; full-year dividend increased by 2% to 14.1p

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