SEGRO [LSE: SGRO]
There’s a property investment company called SEGRO, which used to go under the rather more pointed name of Slough Estates, after its ownership of Slough Trading Estate. Rather than focusing on high rise office blocks or shopping centres, SEGRO’s market is edge of town, flexible business space across the UK and Europe. That may not be glamourous, but if today’s full year results are anything to go by it’s a lucrative line. Profits are up by a quarter, the value of the underlying property portfolio rose 13.6% too and there’s a 5.7% dividend hike on top.
Balfour Beatty [LSE: BBY]
Some big contract news from Balfour Beatty, the construction firm, this morning, which has been selected to form 30% of a joint venture for the building of a people mover at Los Angeles Airport. This is Balfour Beatty’s first major public private partnership in the US civil infrastructure market – something which Donald Trump’s election plans have committed to seeing even more of in the years ahead.