Thanks to a slew of major UK and US public works programmes, revenues and earnings at construction and engineering firm Balfour Beatty (BBY) are set to beat expectations in 2022, according to the company.

The news sent shares in the group up 2.7% to 346p on 8 December, their highest level in more than a decade.

Major UK projects include the Queen Street station in Glasgow, Whitechapel station on the new Elizabeth Line in London and the new engineering campus in Manchester.

Balfour Beatty is the sole contractor on the four-year, £3 billion SCAPE civil engineering framework for England, Wales and Northern Ireland, taking the value of its current order book to £16.1 billion.

In the US, new orders include a $700 million federal building in Maryland, a $400 million convention centre in Florida and $300 million of data centres in Oregon.

‘We expect a strong full year operational and financial performance,’ said chief executive Leo Quinn. ‘Looking to 2023 and beyond, our improved, de-risked and diversified order book gives us confidence that we will continue to make progress in delivering profitable managed growth.’

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