Balfour Beatty ups profit forecasts as it defies construction gloomBalfour Beatty is leaning on public sector contracts (Paul Campbell/PA Wire)Balfour Beatty has boosted its earnings and cash flow targets, as the construction firm’s “real momentum” defies wider gloom facing the sector. Phillip Hoare, the firm’s chief executive, said: “Balfour Beatty enters the second half with real momentum. Balfour Beatty leans on government contractsOn Monday, leading housebuilder Bellway urged the government to cut stamp duty to stimulate construction. But Balfour Beatty pointed to growth in the UK’s energy, defence and transport infrastructure sectors as a key driver of its revenue gains. The strength of demand for these infrastructure projects means Balfour Beatty can be “disciplined and selective” in its choice of work, the firm said.