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Bam鈥檚 UK civil engineering arm Bam Nuttall posted a 拢20m pre-tax loss in the 2014 calendar year, due to one 鈥渆xtremely challenging contract鈥�, the firm has said.

In accounts filed at Companies House, Bam Nuttall said the undisclosed contract had caused its loss, but that at the time of filing it was 鈥渦nder control鈥� and in 2015 it would be 鈥渟ubstanitally completed鈥�.

The 拢20.2m pre-tax loss compared to a 拢10.7m pre-tax profit in 2013. Turnover edged up to 拢774.1m, up from 拢756m.

Bam Nuttall said it had adopted a more 鈥渟elective鈥� approach to tendering in 2014 but was nonetheless 鈥渂usy鈥�.

The firm said it had reduced its dependence on London and the South-east with work on the Borders Rail project in Scotland and work on a new airport terminal in Tanzania.

During 2014 the firm also handed over its legacy infrastructure work at Queen Elizabeth Olympic Park, having rebuilt the various links between parts of the site. The firm said it maintained a presence on the site through winning further bridge reconstruction work. Meanwhile, the firm said it had a 鈥済ood pipeline of work鈥� in the road and rail sectors.

Bam Nuttall鈥檚 parent company, Amsterdam-listed Royal Bam, .

Bam Nuttall鈥檚 UK sister company, . Bam Construct posted pre-tax profit of 拢6.6m, down 39% on 拢10.9m in 2013.

Last month .

The firm is part-way through implementing a cost-cutting and efficiency programme across the group called 鈥楤ack in Shape鈥�, which started last summer and will run to the end of 2015. Royal Bam axed 650 jobs last autumn as part of the programme.