British construction and services group Balfour Beatty posted a 36% rise in first-half profit on Wednesday and said it saw further progress after winning four U.S. contracts worth over $730 million.
"This has been another very, very good period for Balfour Beatty. We are looking forward to further growth in the second half and beyond," Chief Executive Ian Tyler told Reuters.
The group reported pretax profit before exceptional items for the six months to end-June of 76 million pounds ($152 million), as revenue rose to 3.5 billion pounds from 2.7 billion the year before.
"First half results are strong and ahead of expectations. We are upgrading 2007 estimated pretax profit from 175 million pounds to 182 million," Landsbanki analyst Chris Millington said, maintaining a "buy" rating on the stock.
A Reuters Estimates poll of 12 analysts had forecast median pretax profit for the year of 175.7 million pounds.