International infrastructure group Balfour Beatty (BBY) is riding high on positive momentum in its key markets, with its shares trading at all-time highs.

Which makes next week’s interim results (1 August) all the more important for investors, and for analysts who have consistently underestimated the firm’s intrinsic growth and ability to continue winning new contracts.

In its AGM (annual general meeting) statement in May, the firm revealed its UK rail business had won £450 million of new work under the latest government spending plan; its US construction business had been awarded a $385 million deal to build a hotel complex and convention centre in Miami Beach; and its US civils business had been awarded an $889 million contract by the Texas Department of Transport to widen a section of Interstate 30.

At the end of June, the company went one better with news it had won an £833 million ($1.1 billion) contract from European energy group Technip to act as the construction partner for the Net Zero Teesside Power project, the world’s first gas-fired power station with CCS (carbon capture and storage).

The full value of the Teesside contract went into Balfour’s order book before the half-year stage, which should be reflected in the interim results.

This will be the last set of results presided over by chief executive Leo Quinn after more than a decade in the role, during which time the business has been transformed into a profitable global business with strong free cash flow generation and an impressive record of shareholder returns.

Philip Hoare, a 30-year veteran of engineering and project management firm AtkinsRealis, and currently that firm’s chief operating officer, is set to take over the reins in September, and investors will be looking to him to drive the business forward. 

UK UPDATES OVER THE NEXT 7 DAYS

FULL-YEAR RESULTS

14 August: Rank Group

FIRST-HALF RESULTS

11 August: Diversified Energy Company, Marshalls

12 August: Derwent London, Entain, Genuit Group, PageGroup, Spirax Sarco, Xaar

13 August: Balfour Beatty, Beazley, Evoke, Hill and Smith, Persimmon

14 August: Antofagasta, Savills

TRADING ANNOUNCEMENTS

12 August: Bellway

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