Balfour Beatty resumes dividend payments

British construction firm Balfour Beatty restarted dividends with a 0.9 pence interim payment and said it expected its business to reach industry-standard level margins over the following 24 months, showing promise of sustained growth after a turbulent few years.

The company said there were little signs as of yet of Britain's vote to exit the European Union having an impact on its markets, but added that it was too soon to know how the decision would eventually play out.

“Given the late-cycle nature of the construction industry it is too soon for clarity as to what, if any, direct impact the decision will have,” Balfour said in a statement.

Balfour posted a underlying pretax profit from continuing operations, before one-off items, of £7 million (€8.09 million) for the six months ended July 1st, as its turnaround initiatives led to a smaller negative impact from historic UK projects.

The company had reported a comparable loss of £130 million a year earlier. – (Reuters)