Bam鈥檚 UK contracting business also snaps up 拢73m Manchester office scheme

Spinningfields

Bam Construct UK has reported a dip in pre-tax profit for the 2014 calendar year in snapshot results published this week.

The firm - the UK contracting arm of Dutch construction giant Royal Bam - said in a statement that it posted pre-tax profit of 拢6.6m in 2014, down 39% on 拢10.9m in 2013. Turnover rose 6% to 拢886m, up from 拢839m.

Bam Construct鈥檚 full results are not yet available at Companies House.

The news came as Bam was appointed contractor on a 拢73m new-build office development in Manchester.

The No 1 Spinningfields project (pictured) on Manchester鈥檚 Quay Street will cover 260,000 sq ft and rise to 24 storeys. It has been designed by Simpson Haugh & Partners. Work commences next month.

In a statement accompanying the firm鈥檚 snapshot results, Bam Construct chief executive Graham Cash said he believed 鈥渢he industry is at last emerging from recession鈥�, describing 2014 as 鈥渁n eventful year for construction with many major contractors changing the shape of their businesses by retreating from parts of the market, closing offices, or divesting particular business streams and changing their senior personnel.鈥�

Cash said the business鈥� property development and facilites management businesses performed well during the year. He said: 鈥淭he commercial property market revived in 2014. Bam Properties achieved considerable success letting and selling the portfolio of offices that it has developed in recent years.

鈥淥ur facilities management business now has a total FM capability.鈥�

Cash said an 鈥渋mportant goal鈥� for the company in 2015 would be securing a place on the Department of Health鈥檚 major projects framework.

that its overall UK business posted a 鈧�3.4m (拢2.5m) loss for the 2014 calendar year, after posting a 鈧�19.6m (拢14.5m) profit the previous year. The 2014 UK loss was attributed to problems on an undisclosed UK civils project.

Bam Construct is the contracting part of Dutch construction giant Royal Bam鈥檚 UK business. The other part of Royal Bam鈥檚 UK division is civils business Bam Nuttall.

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