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    Gregory

    Research Analyst at UBS

    Gregory Gottlieb is an Account Vice President and Financial Advisor at UBS, specializing in personalized wealth management solutions for next-generation and high-net-worth clients. Leveraging a background in luxury hospitality and international experience in China, he delivers strategic financial planning that includes real estate and asset management expertise, supported by completion of Cornell Executive Education's Real Estate and Asset Management program. Before joining UBS Cornerstone Group in 2021, Gregory held senior management roles with leading hotel operators and spent his first year at UBS with the Wealth Advice Center. He holds professional certifications as a candidate for the Certified Financial Planner (CFP®) and has demonstrated a commitment to industry best practices and client service excellence.

    Gregory's questions to Balfour Beatty plc/ADR (BAFBF) leadership

    Gregory's questions to Balfour Beatty plc/ADR (BAFBF) leadership • H1 2023

    Question

    Gregory from UBS asked for expectations on sustainable working capital levels into 2024, the ambition for earnings growth in 2024, and the quantum of investment in overheads to capture growth opportunities.

    Answer

    CFO Phil Harrison projected a medium-term working capital level of around 13% of revenue. CEO Leo Quinn forecasted an earnings uptick in H2 2024 and a stronger 2025, contingent on project timings. Harrison clarified that the overhead investment to support growth would be in the 'high millions,' not tens of millions.

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