Balfour sets-up “New Normal” Covid-19 taskforce

Grant Prior 1 month ago
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Balfour Beatty has set up a New Normal Taskforce to come up with innovations for working in a post-Covid construction world.

The group has already come up with more than 450 ideas after asking employees for their suggestions.

The ideas are being taken forward for implementation under four strategic themes (working environment, new markets and capability, digital enhancement and rapid return to work) and will be incorporated to “deliver operational and financial efficiencies.”

In a trading update today Balfour said the key driver of performance for the rest of the year will be “improving current productivity, which will depend on the availability of employees, subcontractors and materials, whilst maintaining social distancing rules and ensuring satisfactory contractual resolution on projects impacted by Covid-19″.

Balfour has kept most of its construction sites open during the pandemic with 78% of sites open in April and 83% in May.

Of those open sites in May 17% experienced significant disruption due to the availability of employees, subcontractors or materials.

Balfour has seen its order book boosted by £3bn of HS2 contracts and it now stands at £17.4bn from £14.3bn in April 2019.

The company has £452m of net cash while “cash discipline remains the group’s principal financial priority at this time.”

Leo Quinn, Group Chief Executive, said: These remain challenging and uncertain times. Our priority will always be the safety and health of all our employees, customers, partners and the public.

“Build to Last has made Balfour Beatty a resilient organisation with a high-quality order book and a strong balance sheet.

“As we navigate the Group through this exceptional year, we will maintain our focus on the longer term to ensure we are ready to capitalise fully on the significant opportunities in our chosen markets.”    

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