Government infrastructure spending cannot continue indefinitely but will be stable in the short term, Ian Tyler, Balfour Beatty chief executive, said as the company revealed a 72% rise in pre-tax profits.

Announcing full-year results, the company said revenue climbed 21% from £7.45bn to £9.48bn, including contributions from its share of joint ventures and associates.

The company put the strong performance down to revenue from the acquisition of several businesses in the UK and US, and continued spending from the public sector and regulated industries.

Financial Times, The Times