Dutch giant鈥檚 income goes past 鈧7bn mark
An improved performance from its UK building and civil engineering businesses helped Dutch contractor Bam past the 鈧7bn (拢5.8bn) turnover mark last year.
Income was up 7% to 鈧7.3bn (拢6bn) with the firm鈥檚 UK business posting a combined turnover of just over 鈧2.3bn (拢1.9bn).
The firm鈥檚 civil engineering arm, Bam Nuttall, saw revenue jump from 鈧974m (拢814m) to 鈧1.3bn (拢1.08bn) helped by its work on the HS2 railway where it is part of a Kier team building the line in the Chilterns.Earnings at the UK arm were up three quarters to 鈧41m (拢34m).
And income at its construction and property arm, which signed a 拢250m deal to build a new arena in the shadow of Manchester City鈥檚 Etihad stadium last year, was also up from 鈧894m (拢747m) to 鈧1.06bn (拢885m) with the firm shrugging off the impact of a problem university scheme in Sheffield the year before.
Full year earnings from the construction arm were 鈧31m (拢26m) from 2020鈥檚 鈧4.3m (拢3.6m).
The group said it reported adjusted earnings of 鈧278m (拢232m) but restructuring and amortisation costs dragged the number down to 鈧18.1m (拢15m) 鈥 though this was still a return to the black from last year鈥檚 loss of 鈧122m (拢102m).
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