AGM Statement

Balfour Beatty PLC 2 May 2001 2 May 2001 BALFOUR BEATTY PLC AGM STATEMENT Reporting to shareholders at the Company's Annual General Meeting, Chairman, Lord Weir, said: 'As is usual, I would like to take this opportunity to update shareholders on the Company's progress. 'During the first part of the year, both the level of order intake and progress on existing contracts has been satisfactory, although, as a matter of detail, our transmission line business has had work on its UK projects suspended during the foot and mouth crisis. 'On a more positive note, we anticipate being able to announce a number of sizeable new contracts in the rail sector in the near future. 'Shareholders will note from the Annual Report that, during 2000, the Company took a number of initiatives to further develop its policies and practices in the area of corporate responsibility. This momentum will be continued and, next year, we intend to accompany the publication of the Annual Accounts with a separate report on environmental and related issues. 'Financial performance is broadly in line with expectations. The likely pattern of completions and settlements, taken together with the timing of the renewal of rail maintenance contracts, means that operating profits will be weighted towards the second half of the year. 'To sum up, I therefore see no reason, at this stage, to depart from or to qualify what was said in our Report and Accounts regarding our prospects for the year as a whole.' ENDS
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