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Bam Construct 2015 results reveal profit of £13m as margin grows to 1.4%

Bam Construct has posted a pre-tax profit of £13m and improved margins in its latest financial results.

The company saw revenue rise to £897.5m for the year to 31 December 2015, up 1.2 per cent from £887.1m a year earlier.

Pre-tax profit for the year increased 81 per cent to hit £13m, up from £7.1m a year ago, leaving the firm’s pre-tax margin at 1.4 per cent, up from 0.8 per cent a year earlier.

Chief executive Graham Cash said the firm had not seen “any direct impacts” from the UK’s vote to leave the European Union in June.

“I believe our core strategy will enable us to be resilient in the face of any uncertainties in the next few years arising from Brexit,” he added.

The company’s order book stood at £1.72bn, down slightly compared with the £1.79bn posted a year earlier.

The firm completed 54 projects and won 64 new jobs over the course of the year.

Nearly two-thirds (62 per cent) of the work won in 2015 was from public sector clients, while the remaining 38 per cent came from the private sector.

Major contracts won by Bam Construct since the start of 2016 include a place on the £4bn ProCure22 framework and a £41m campus extension for Birmingham City University.

Bam’s FM business also grew during 2015, with turnover rising to £55m from £43.4m a year earlier, while profit rose to £2.5m, up from £2.2m over the same period.

Earlier this month, the firm’s parent company Royal Bam posted revenue of £2.9bn for the first six months of 2016, with a total UK pre-tax profit of £15.7m.

Bam Construct’s managing director Richard Bailey left the firm earlier this month after 39 years.

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