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Wed June 19 2019

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BAM Nuttall delivers 3% profit margin

20 May BAM Nuttall has posted results for 2018 showing a near fourfold growth in operating profit on a 12% rise in revenue.

In 2018 BAM Nuttall generated revenue of £749.9m (2017: £668.8m) and made an operating profit of £24.8m (2017: £6.7m), representing an operating margin improvement from 1% to 3%.

Profit before tax was £26.3m ((2017: £7.8m).

Chief executive Steve Fox said: “This solid business performance reflects the diligent application of our strategy. We continue to choose to partner with customers and suppliers who align with our objectives, in a market that remains challenged by many factors, Brexit amongst them.”

There were also improvements in the company’s health & safety record and other business indicators. There was a 30% reduction in RIDDOR reportable incident frequency and a 50% reduction in total person-days lost to work-related incidents.

 “It’s encouraging to see an already strong safety performance improve further in 2018, with reportable injuries now occurring at less than 1 in 1.4 million worked hours,” Steve Fox said. “Our work to eliminate forward-tipping dumpers and causes of vibration-related illness, are having a profound impact across the industry and our desire to improve and maintain positive mental health and wellbeing is undimmed.”

MPU

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