BAM Construct UK has published its report and accounts for 2020.
Revenues across the design, construction, facilities management and property development businesses reduced by 15% to £793.1m (2019: £930.5m) due to the impact of Covid. Profit before tax increased to £13.7m (2019: £9.4m).
The order book remained strong at £1,471.9m (2019: £1,402.9m). Of new work won in 2020 58% was for public sector clients and 42% was for private sector clients.
The year-end cash balance was £80.7m (2019: £85.8m) and the strong balance sheet improved, with net assets of £145.0m (2019: £135.7m).
BAM Construction delivered a profit before taxation of £8.4m (2019: loss £2.4m) on a revenue of £722.4m in 2020 (2019: £867.8m). Major construction awards in 2020 included a project to build the world’s most sustainable film studios for Sky Studios, Central House offices in London, Derby Cathedral Free School, and the Clydebank Health Centre.
In 2020 BAM FM’s turnover grew more than 10% to £65.2m (2019: £58.9m). Profit before taxation was £3.5m (2019: £3.6m). During the year BAM’s FM team was appointed to several significant new contracts for (among others) Crawley Education Authority, London Borough of Hackney, North Ayrshire Council plus Hilton Hotels, Skechers and Premier Foods.