Firm adds supply chain problems hit humbers during period
Inflation and supply chain problems in the UK meant turnover in the third quarter at Bam鈥檚 UK and Ireland business fell, the firm said in a trading update yesterday.
It said the problems had mainly hit larger jobs in the UK while its business across the Irish Sea remained stable. And it added its UK order book had been reduced after a government review of spending on roads.
Group revenue for the nine months to September was 鈧�4.9bn (拢4.3bn), a fall of 15% on the same period last year after disposals which included selling German tunnelling firm Wayss & Freytag that completed in September. Bam booked a 鈧�52.3m (拢46m) profit on the sale which helped earnings rise 26% in the first nine months to 鈧�281m (拢245m).
The firm said it was cooperating with Dutch authorities over 鈥減otential irregularities at some already completed projects鈥� carried out by Bam International which is being wound down by the business. The investigation was made public last month after officials from the Dutch Public Prosecutions Office visited BAM International鈥檚 offices in Gouda near Rotterdam.
Bam鈥檚 group order book during the period was 鈧�10bn (拢8.7bn).
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