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Bam Construct UK, part of Dutch-based Royal Bam, has reported turnover for 2016 of 拢1.1bn, up 19%, with gross profits up 32% to 拢59m.

The firm reported pre-tax profits of 拢26.2m for the 12 months to the end of December 2016, more than double 2015鈥檚 figure, boosted by a 拢12m exceptional gain resulting from an adjustment to the group鈥檚 pension scheme. Underlying operating profits rose 9.2% to 拢14.2m.

Bam鈥檚 order book was 4% down at 拢1.72bn.

The firm鈥檚 construction division notched up turnover of 拢987.6m, a rise of 22%, while pre-tax profits were down by 拢200,000 at 拢5.3m.

Bam said the division completed 55 projects and won 36 new projects during the year, including developer Argent鈥檚 Coal Drops Yard at King鈥檚 Cross designed by Heatherwick Studio and Three Snowhill, a 19-storey tower in Birmingham for Ballymore Estates. It said that 55% of the work secured represented repeat business.

The contractor will look at expanding into the private rental sector this year as it looks at potential growth opportunities and also plans to broaden its property development division targeting student accommodation and commercial development having reorganised its portfolio.

Graham Cash, Bam鈥檚 chief executive, said the group had actively sought clients using a two stage tender procurement process. 鈥淲e have a full design practice, and a services engineering division, 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. 

鈥淲e have been tendering ever more selectively to ensure we focus on those schemes which maximise our differentiating capabilities,鈥� he added.

In the wake of the UK鈥檚 decision to leave the EU, Bam said it was 鈥渃urrently unable to estimate the impacts, if any, on the company鈥檚 property valuation or the prospects for the business generally鈥�.