BAM Construct reports strong margins for FM business

BAM Construct & Ventures UK has reported increased turnover but a slip in profits in its latest financial update.  

Revenue for the year ended 31 December 2022 rose to £982.3 million compared to £918.6 million in the previous recorded year, generating a pre-tax profit of £14.6 million which was down from £20.4 million in FY2021.  

Gross profit for the business was down slightly on the prior year to £59.4 million (FY2021: £64.9 million), while operating profit also fell from £19.6 million to £12.7 million.  

“The business has continued to concentrate on construction projects and FM services that continued to deliver strong margins,” said the company. 

The company’s cash position held reasonably steady for the period at £84.8 million, slightly up on the year before. 

During the same period dividends of £4 million were declared and paid (FY2021: £Nil). 

Profit for the year for BAM Construct & Ventures was £11 million, compared to £9.1 million in the prior period.  

Order book value was reported at £1.7 billion. 

The Herts-headquartered contractor provides construction, design, services engineering, plant services, facilities management (FM) and property development in the UK via its various operating companies.  

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