Bam’s two biggest UK divisions have suffered falls in profit, the company revealed today.
Buildings division Bam Construct posted pre-tax profit of £24.6 million in the 12 months to 31 December 2010 – down from £29.9m the previous year.
Civils arm Bam Nuttall recorded pre-tax profit of £15.7m last year – down from £24.1m the prior year.
While Bam Construct saw turnover drop from £1.13bn to £1.04 billion, turnover rose slightly at Bam Nuttall, from £643.7m to £694.8m.
Smaller public-private partnership arm Bam PPP posted turnover of £60.8m and pre-tax profit of £3.9m.
The combined profit margin across the three divisions was slightly above 2.0 per cent.
Martin Rogers, member of the executive board of Dutch parent company Royal BAM Group, said: “The turnover result positions Royal Bam Group’s UK operations in the top tier of the UK market.
“Bam Construct UK, Bam Nuttall and Bam PPP report a healthy order book position with a figure of £2.76bn at the year ending 31 December 2010. The companies are performing well in the face of difficult market conditions.”