BAM Construct UK has reported a year of "solid, stable performance" in its financial results for 2017.

With pre-tax profit falling to £19.3 million (2016: £26.2m) and revenue dipping to £957.5m (2016: £1,072.2m) the company produced a margin of 2%. In addition, operating profit improved by 40% from 2016 before exceptional terms.

BAM Construct UK is part of the Dutch Royal BAM Group, whose largest subsidiary (BAM Construction) having revenue of £903.6 million.

In addition, BAM has no debt; its cash at the year-end was £82.3m (2016: £116.6m) while its order book remained almost similar to last years at £1,624m (2016: £1,654m).

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Chief Executive James Wimpenny said BAM Construct UK has been "consistently profitable for more than a decade".

"We operate in a high risk, low margin industry. We believe our stability and predictable performance is attractive to clients and our supply chain and is one of the reasons why much of our work is repeat business," he said.

"I am also very pleased that we reduced the number of RiDDOR accidents by nearly half in 2017 (13 down from 25 in 2016) and our incident frequency rate is the second lowest among Build UK members.

"Our tCO2e emissions fell by over 15% to 14,410 tonnes (2016: 15,023) and we diverted more than 90% of waste from landfill.  We add value on our projects through our commitment to community engagement."

Continuing, Mr Wimpenny said in the future BAM aims to stay "at the forefront of digital construction and data management".

"We are able to offer an integrated range of services across the lifecycle of a building and we will maintain our focus on competing for complex, high value work with clients who appreciate quality over price and value a collaborative approach," he said.

(LM/MH)