Turnover at BAM Construct UK rose by 19.5% to 拢1,072m in 2016 (2015: 拢897.5m).
Profit from underlying operational activities was 拢14.2m (2015: 拢13.0m), and cash in the bank grew to 拢117m from 拢79m. At year-end the order book was a little down at 拢1,653m (2015: 拢1,723m).
Profit before tax of 拢26.2m included a one-off exceptional gain of 拢12m from changes to two defined benefit pension schemes.
Chief executive Graham Cash said that BAM had actively sought clients using a two-stage tender procurement process. 鈥淲e have a full design practice, and a services engineering division, [so] we are able to assist a number of clients to achieve realistic cost plans and manage budget constraints through value engineering and creating better design options,鈥� he said.
He added: 鈥淲e have been tendering ever more selectively to ensure we focus on those schemes which maximise our differentiating capabilities. Our aim is to secure long-term strategic alliances with our clients. In 2016, 55% of our new work secured was repeat business with existing clients.鈥�
In 2016 BAM was selected for the Procure 22 national health framework for England. It continued its participation on the Education Funding Agency鈥檚 national and regional contractors鈥� frameworks and major regional frameworks such as YORbuild and the Southern Construction Framework.
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