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Tue June 22 2021

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Nuttall’s picky policy pays off

22 Jun 16 Thanks to more careful project selection, civil engineering contractor BAM Nuttall returned to profit in 2015.

Chief executive Stephen Fox
Chief executive Stephen Fox

In 2015 BAM Nuttall made a pre-tax proft of £18.2m on turnover up 2% to £787m (2014: £770m).

The previous year the company had made a pre-tax loss of £18.3m.

The 2015 result represents a profit margin of 2.3%, which chief executive Stephen Fox said was “further vindication of our policy of managing risk and only selecting projects with appropriate contract terms”.

He said: “We will continue to pursue this strategy of selectivity with projects that we can add value to through two stage early contractor involvement.”

Mr Fox added: “We will not target unsuitable projects in pursuit of growth.”

BAM Nuttall, part of the Dutch company Royal BAM Group, generates 99% of its revenues in the UK.

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MPU

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