Turnover at BAM Construct UK rose by 19.5% to £1,072m in 2016 (2015: £897.5m).
Profit from underlying operational activities was £14.2m (2015: £13.0m), and cash in the bank grew to £117m from £79m. At year-end the order book was a little down at £1,653m (2015: £1,723m).
Profit before tax of £26.2m included a one-off exceptional gain of £12m from changes to two defined benefit pension schemes.
Chief executive Graham Cash said that BAM had actively sought clients using a two-stage tender procurement process. “We have a full design practice, and a services engineering division, [so] we are able to assist a number of clients to achieve realistic cost plans and manage budget constraints through value engineering and creating better design options,” he said.
He added: “We have been tendering ever more selectively to ensure we focus on those schemes which maximise our differentiating capabilities. Our aim is to secure long-term strategic alliances with our clients. In 2016, 55% of our new work secured was repeat business with existing clients.”
In 2016 BAM was selected for the Procure 22 national health framework for England. It continued its participation on the Education Funding Agency’s national and regional contractors’ frameworks and major regional frameworks such as YORbuild and the Southern Construction Framework.