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    Sam Bland

    Stock Analyst at JPMorgan Chase & Co.

    Sam Bland is a Stock Analyst at JPMorgan Chase & Co., specializing in energy and industrials with a focus on oil & gas midstream and marine shipping companies. He has covered firms such as ZIM Integrated Shipping Services, Frontline, and Scorpio Tankers, achieving a 66.67% success rate and an average return of 32.64% across 21 ratings, placing him in the top third of equity analysts by performance. Bland has been active in his role at JPMorgan in recent years, including research coverage for Balfour Beatty plc/ADR, and has participated in industry discussions and earnings calls as part of his analytical duties. His professional background includes expertise in equity research and sectoral analysis, complemented by relevant securities industry qualifications.

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

    Sam Bland's questions to Balfour Beatty plc/ADR (BAFBF) leadership • FY 2016

    Question

    Sam Bland of JPMorgan Chase & Co. requested an update on the UK construction business's performance excluding the 89 problem contracts and asked if other underperforming contracts would provide a mechanical margin uplift as they roll off.

    Answer

    CFO Phil Harrison confirmed that the UK business performed better in H2 when excluding the 89 problem contracts. He explained that while there are other lower-margin contracts, they are not loss-making and will trade out normally. He noted that the gross margin profile on new contracts booked in 2016 has tightened considerably, indicating a better future performance as this work is executed.

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