Balfour Beatty Announces Transaction in Own Shares

Balfour Beatty, a leading international infrastructure group, has announced that it has purchased 100,000 of its own shares. This transaction is part of the company’s ongoing share buyback program, which aims to reduce the number of shares in issue and increase shareholder value. The purchase was made on the London Stock Exchange at a price of 275.00 pence per share, for a total consideration of £275,000. The shares purchased will be held in treasury. Balfour Beatty’s share buyback program is a key component of the company’s capital allocation strategy, which also includes investing in growth opportunities and paying dividends to shareholders. The company’s strong financial position and cash flow generation have enabled it to pursue this share buyback program, which is expected to enhance shareholder returns. Balfour Beatty’s management team believes that the company’s shares are undervalued and that this program will help to reduce the discount to net asset value. The company’s share price has been impacted by market volatility and uncertainty, but the management team remains confident in the company’s long-term prospects. Balfour Beatty has a strong track record of delivering complex infrastructure projects and has a robust pipeline of future work. The company’s order book stands at £14.3 billion, providing visibility and certainty for future revenue. Balfour Beatty’s strategy is focused on delivering sustainable and socially responsible infrastructure solutions, which are essential for supporting economic growth and improving quality of life. The company’s commitment to sustainability is reflected in its goal to achieve net zero carbon emissions by 2040. Balfour Beatty’s share buyback program is subject to certain limitations and conditions, including the company’s financial position and market conditions. The program may be suspended or terminated at any time, depending on these factors. The company will continue to monitor its financial position and market conditions, and will provide updates on the progress of the share buyback program. Balfour Beatty’s management team is committed to creating long-term value for shareholders and is confident that the share buyback program will help to achieve this goal. The company’s strong financial position, combined with its robust pipeline of future work and commitment to sustainability, make it an attractive investment opportunity. Balfour Beatty’s shares are listed on the London Stock Exchange and are traded under the ticker symbol BBY. The company’s market capitalization is approximately £2.5 billion. Balfour Beatty is headquartered in London, UK, and has operations in over 20 countries around the world. The company’s international presence and diverse range of services make it a leading player in the global infrastructure market. Balfour Beatty’s share buyback program is a key component of its strategy to deliver long-term value to shareholders, and the company is committed to continuing this program in the future.

Source