BAM Construct UK Ltd has reported group turnover of 拢839.5m in 2013, down 8.5% from 2012鈥檚 拢917.2m.
Pre-tax profit was down 21.6% to 拢10.9m (2012: 拢13.9m). Work in hand at the end of the year of 拢1.85bn, a 2.2% improvement from the start of the year.
The group comprises BAM Construction, BAM FM and BAM Properties but not BAM Nuttall, which is a separate subsidiary of the Dutch Royal BAM Group.
BAM Construction turned over 拢783.1m in 2013, a 6.5% drop on 2012鈥檚 拢837.9m.
The acquisition of Sutton Group in January last year helped grow BAM FM turnover from 拢30.0m to 拢43.1m. Operating profit was 拢8.9m (2012: 拢1.0m). The company said that it is aiming to grow the facilities management business to 拢100m turnover by 2017.
The acquisition of Sutton was the primary reason for a 0.7% growth in the group鈥檚 workforce during the year from 2,218 to 2,233.
BAM Properties鈥� strategy has been focused on selling older property to realise cash for further investment. It is now looking for new development opportunities.
Chief executive Graham Cash said that BAM Construct had 鈥渨ithstood the effects of four years of recession well鈥�. He said that the board had taken 鈥渁 conscious decision to maintain our capacity and retain as many people as possible鈥�.
He added: 鈥淚 am pleased that, as we see the first encouraging signs of recovery, we have managed to emerge from the recession the same sized company, still present in all of the regions of the UK, still active in all our markets.鈥�
Got a story? Email news@theconstructionindex.co.uk
