Balfour Beatty hit by construction woes

The construction services division, which has worked on high-profile projects including the Olympics Aquatics Centre and Crossrail in London, saw a 9 per cent decline in its order book to £8.3 million in the first half of the year as the wider marketplace continued to shrink.

The 103-year-old group said it is awaiting the result of £300 million worth of schemes in the energy and waste sectors in the UK, while it hopes for continued success in student accommodation contracts.

The construction sector, according to official figures, had a dismal first half, dragging the economy into the longest double-dip recession since the 1950s.

The wider group revealed a 12 per cent rise in underlying pre-tax profits to £154 million in six months to June 29.