Europe / Middle East / Africa
UK builder sees improvement in Dubai market
May, 14 2012
(UK) -- Balfour Beatty, Britain's largest contractor, has seen improvements in Dubai and says contract wins in the Middle East has helped the company maintain a £15bn order book.
In its 2012 Q1 interim management statement, covering the period January 1 to May 8, the company said Dubai and the US were "upsides" looking forward.
"Looking ahead, the operating environment in the construction sector remains challenging in some of our major markets. While US market recovery and liquidity improvement in Dubai bode well for upside, the UK market is expected to remain competitive," a company statement said.
"We are taking the necessary actions to manage the businesses through this period including those which will drive further structural efficiency across the Group."
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