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Balfour Beatty is in the black after beating the pain

by RUSSELL LYNCH
Balfour is back in the black after two consecutive losses: Luke MacGregor/Reuters

THE builder behind a host of major projects in the capital, including London’s “super sewer”, moved back into the black today after two years of pain.

Balfour Beatty, the UK’s biggest construction firm, fought off an opportunistic takeover bid from rival Carillion in 2014 as it was hit by a slew of profit warnings.

But the firm’s fortunes have revived under boss Leo Quinn, who has overhauled management and focused the sprawling operation on the UK and US markets.

Last year it made pre-tax profits of £60 million, compared with a £123 million loss in 2015.

Balfour is bidding for HS2 contracts in the UK.