Collectively, BAM Construct UK, BAM Nuttall and BAM PPP generated £1.7bn revenues with a combined pre-tax profit of £34.7m at a margin of 2.0%. Their combined forward order book is valued at £2.7bn.
Martin Rogers, member of the executive board of Royal BAM Group, said: “BAM’s UK companies have continued to perform well in the challenging economic and business environment that continues to persist. The profitability of the UK companies improved in 2012 primarily as a result of careful market positioning, project selectivity and improved risk management and project execution.
“Although their turnover in 2012 was lower than the previous year, combined revenue of £1.7bn is evidence that the BAM brand is a significant force in the UK construction sector.”
|
BAM Construct UK |
BAM Nuttall |
BAM PPP UK |
||||
|
2012 |
2011 |
2012 |
2011 |
2012 |
2011 |
|
|
Turnover |
£917.2m |
£945.9m |
£730.0m |
£809.0m |
£55.8m* |
£55.7m |
|
Pre-tax profit |
£13.9m |
£11.5m |
£18.1m |
£14.8m |
£2.7m |
£3.1m |
|
Operating margin |
1.5% |
1.2% |
2.5% |
1.8% |
*Of which £38.0m is construction turnover.
BAM Construct UK chief executive Graham Cash said: “BAM Construct UK won an array of new projects in 2012 that demonstrates our range and versatility. We formed some significant new client relationships with customers who want high value construction and property services. We continue to innovate and to offer additional value to customers, for example, in the way we are developing building information modelling to help our customers manage their completed buildings more efficiently.”
BAM Nuttall chief executive Steve Fox said: “BAM Nuttall achieved a margin that exceeds most competitors and places us among the top performing businesses in the civil engineering market. Our order book remains strong, vindicating our selective approach to work winning. We continue to invest in developing our employees and supply chain and continue to work with other BAM companies and in joint ventures, when appropriate, to leverage our business into a superior and sustainable position.”
BAM PPP UK managing director Robert Young said: “During 2012 we continued to work closely and flexibly with our existing clients, adapting and benchmarking our services and assisting them to manage change. The UK PPP market is currently providing some exciting opportunities for BAM in the education, transportation and health sectors and we hope that the emergence in 2013 of PF2 as the successor to PFI will act to stimulate the market more widely throughout the United Kingdom.”
BAM PPP UK’s work in hand fell from £483.6m last time to £312.5m.
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