In recent weeks Balfour Beatty has acquired two US contractors: water and wastewater specialist聽from Bilfinger-Berger for 拢12m, and for 拢58m. In April it paid 拢18m for UK energy management specialist .
With no material change in trading conditions, the board said that its strategy was to 鈥渦se our strong balance sheet to invest in our business in order to drive organic growth, improve operational performance and cost-effectiveness and build capability through selective acquisitions such as Howard S. Wright.鈥�
It added: 鈥淭hese factors, combined with fluctuations in working capital, are expected to result in a reduction in the net cash position.鈥�
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