Bam UK results show solid rebound
Bam Nuttall, the civil engineering business, saw turnover rise 27% from £844m in 2020 to £1,073m in 2021 and pre-tax profit rise from £12m to £26.2m. At the start of 2022, Bam Nuttall had £147m cash in the bank and an order book worth nearly £3.4bn.
Bam Construct UK, the building and facilities management business, grew revenue by 16% from £793m in 2020 to £919m in 2021, lifting pre-tax profit from £13.7m to £20.4m. It had £83.8m cash at year-end and £1.8bn -worth of orders
John Wilkinson, chief operating office of Bam UK & Ireland, said: “2021 was the first year of Royal Bam Group’s three-year strategic plan to create a more predictable, profitable and sustainable company, and to build a more sustainable tomorrow.
“Bam in the UK had a positive year in both construction and civil engineering. We improved our financial performance, grew our order book and have provided an excellent platform for future growth in our structure and operations. We achieved this despite the well-known international economic challenges.”
Bam Construction executive director James Wimpenny said: “Bam Construct UK maintained its strategy of forming long-term strategic alliances with clients who share our values of collaboration and who are interested in leveraging the benefits of digital construction, and new methods such as off-site fabrication and sustainability. We won £1.1bn of new work in 2021, and we aim to maintain a balanced portfolio, across both the public and private sector, as well market sectors such as commercial, education and health.”
Key projects for the construction side of the business include completing Meta’s new London offices at 11-21 Canal Reach Kings Cross (London), 103 Colmore Row (Birmingham), Sir William Henry Bragg Building (Leeds), and Atlantic Square (Glasgow).