Balfour Beatty exits UK water sector
Contractor Balfour Beaty has announced its exit from the UK water sector.
In its results for the half year to 26 June 2020 the company said it was withdrawing from the gas and water markets, “as future opportunities do not meet the group’s selective bidding criteria.”
It reported half-year revenue at its Support Services segment – which included its gas and water interests – down 5% on the same period 2019 to £476m.
The company said contracts under AMP7 were “generally being awarded on terms that are not acceptable to Balfour Beatty.” As a result it said of its historical contracts with Thames Water, Anglian Water and United Utilities it was “only expected to retain the Anglian Water contract.”