Bam reported first half sales of € 4,2 billion, up +10% on the same period in 2007. Pre-tax profit mirrored sales as it also climbed +10% from € 119 million in the first half of 2007 to € 131 million in 2008.
In the construction sector, the UK and Netherlands, and to a smaller extent Belgium and Germany, all contributed to sales of € 1,8 billion, up € 17 million on the same period in 2007, despite pressure on margins in the residential and non-residential markets. Pre-tax profits increased +47% from € 48 million in the first half of 2007 to € 71 million in 2008.
HBK UK made a significant contribution to the group’s success in the sector and because the division did not operate in the residential construction market, the decline in the segment had little impact.
A company statement said, “Volumes in the non-residential and civil engineering markets remain at satisfactory levels in nearly all home markets, due primarily to an increase in the number of contracts from the public sector. This is part of the reason behind the group’s success in continuing to strengthen its order book during the first six months.”