Heavyweight construction employer Balfour Beatty isn't cutting back on UK graduate recruitment, despite saying in its half-year financial results that it will focus on pursuing work opportunities abroad. Balfour Beatty is planning to recruit 150 UK graduates for 2013 – the same number as last year.
Balfour Beatty's half-year financial results
The company's global results largely defy the gloom plaguing the construction sector by reporting a rise in pre-tax profits, which are up by 3% to £93m, and revenue, which is up by 6% to £5.5bn.
Margins were up in professional services, with the company pointing to its higher growth in regions in the Middle East, Africa and Asia. However, it is still under pressure in construction services, as a result of its UK order book and revenue; having now completed the bulk of its Olympic workload, the company has seen a noticeable dip in its UK orders and profits, which have dropped by 2% and 3% respectively.
The construction firm, which was heavily involved in public landmark projects such as the Olympic Aquatic Centre, the A3 Hindhead dual carriageway and M25 motorway improvements, is now seeking to boost its order book by focusing on smaller, private projects.
Balfour Beatty has said that it is planning its strategy on the assumption that there will be no sustainable economic recovery in Britain in the immediate future. The company are therefore seeking to capitalise on foreign markets where there are opportunities for growth despite a ‘tough world’.
Chief executive, Ian Tyler, commented: ‘The increase in our interim dividend, consistent with our progressive policy, reflects our confidence that we are well placed to take full advantage of the global growth in infrastructure markets.’
What this business strategy means for graduates applying to Balfour Beatty
On the surface, Balfour Beatty's strategy does not seem promising for UK graduates; the company appears to be prioritising work abroad. However, according to its latest recruitment literature, the company is still hiring 150 UK graduates for 2013. This may mean that recruits will be sent to work on projects abroad, but it’s more likely that they will be found project work in the UK initially.
One ongoing UK project in which the company is involved is helping to build the legacy of the London Olympics. As well as the Aquatic Centre, Balfour Beatty built the bridges spanning the river in the Olympic Park; it will continue to manage and operate both of these landmarks.
Source: Targetjobs.co.uk, Monday 20th August 2012
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