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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