Can a company be unfairly tarnished by the sector it is in? The answer is almost certainly yes, particularly if the label is loosely applied. Whether it is the case with Balfour Beatty and construction, however, is a matter for debate.
Balfour Beatty was founded in 1909 by George Balfour, an engineer, and Andrew Beatty, an accountant. It operates three main divisions: construction, support services and infrastructure investments. Its main markets are Britain, the United States and Hong Kong, where it operates a joint venture with Jardine Matheson called Gammon.
The company has about 26,000 staff worldwide, is a constituent of the FTSE 250 index and in its most recent financial year had a pre-tax profit of £181 million on revenues of a little more