Hello Share Moochers. Balfour Beatty (BBY) is a household name in the construction game. And, like all constructors, it took a nasty hit with Covid. But now its profits are almost back to pre-pandemic levels. Though in the first six months of 2022 revenue was slightly down, profit, the much more important number of course, improved significantly.
Hello Share Collectors. A year ago I supported construction companies as governments, including the USA and Blighty, planned to start more big projects in the hope the extra spending would boost a jobs market hit by Covid. But the story has changed since then as politicians lean towards austerity instead. Nevertheless, some construction giants look to have been over-pummelled by these shaky times and their share prices look undervalued now.
Hello Share Wranglers. Like most infrastructure jumbos, Balfour Beatty (BBY) is making a strong recovery after the setbacks of Covid. So confident is the company that in the first quarter of 2022, it has re-bought nearly £20 million's worth of its own shares. And that's not all. It expects to have repurchased £150 million's of its stock by the year's end. The outfit happily boasts that it will continue to make higher profits for the rest of 2022.
I see a year ago that Malcolm observed ‘Balfour Beatty Set to Leap Ahead as Covid Restrictions Thaw’. He was absolutely right as reflected by a share price that has risen from 240p then to just over 300p today. Investors who bought the stock however may be thinking about what to do today given a 5% share price fall following the publication of half year results. So what is going on at the ‘leading international infrastructure group…(which) finances, develops, builds and maintains the vital infrastructure that we all depend on’?
Hello Share Tycoons. It’s possible you’re rather wary of construction companies, with the sector having had it tough in the last couple of years. And if Blighty encounters a post-covid recession, it’s likely that heavy building will be one of the first and worst areas to be hit. But if you’re in my camp that guesses there’ll be a coiled spring boom, then UK giants of the construction world could be among the stars.
Hello, Share Fans. Some companies which you might expect to have been knocked flat during the months of lockdown have not done all that badly, considering the dire situation which seemed to face them. One such outfit is Balfour Beatty (BBY), the construction giant...
