Questor share tip: Balfour Beatty is well placed globally The group has also secured a five-year extension to its existing contract with National Grid to maintain and upgrade the UK's electricity transmission network. This is worth about £750m. Given the timing of these contracts, they will not have been included in the company's order book at the end of 2011, which Balfour said last week stood at £15bn. Earnings are likely to be stable in 2012, with growth from 2013 coming from extra spending on infrastructure globally. The purchase of US Parsons Brinckerhoff means that the group is now present in all stages of the design, construction and management cycle. The shares were first tipped on January 25, 2009, with investors advised to take up the rights to fund the acquisition of Parsons in September of that year. This gave a theoretical ex-rights price of 299.175p for the original tip. Last tipped at 230.3p, the shares are down 6pc from the original recommendation level, but Questor continues to believe that the shares are cheap. The company continues to win new orders and its range of skills and geographical spread has never been better.