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Sat October 20 2018

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BAM reports slowdown in UK business

21 Feb Dutch construction group BAM faced headwinds in its UK operations in 2017, with revenue down 11% and profit down 7.5%.

Royal BAM Group’s UK turnover in 2017 was €1,872m (2016: €2,106m) and profit was €39.7 (2016: €42.9).

Overall, the UK order book was flat, with the non-residential construction market slowing down, particularly in the London area, but improving for the BAM Nuttall civil engineering division.

At group level, Royal BAM Group made an adjusted pre-tax profit of €63.3m, which was down 38% on the previous year (2016: €102.7m) even before the inclusion of a €68m one-off charge to cover losses on its sea lock project at Ijmuiden in the Netherlands. There was also a negative impact from the collapse of a parking garage at Eindhoven Airport.

Group revenue was down 5% at €6,604m (2016: €6,976).

MPU

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