BAM Nuttall sees rise in profits for 2018

BAM Nuttall has reported a rise in both revenue and profit for 2018.

The firm revealed turnover for the year was just under £750 million (2017: £668.8 million), while operating profit rose to almost £25 million (2017: £6.7 million). Operating profit margin increased from 1% to 3%. Pre-tax profit was £26.3 million (2017: £7.8 million).

BAM said there had also been a 30% reduction in RIDDOR reportable incident frequency; a 50% reduction in total person-days lost to work-related incidents; and a reduction in the gender pay gap, median and bonus figures.

Chief executive Steve Fox CBE said, “This solid business performance reflects the diligent application of our strategy. We continue to choose to partner with customers and suppliers who align with our objectives, in a market that remains challenged by many factors, Brexit amongst them. It’s encouraging to see an already strong safety performance improve further in 2018, with reportable injuries now occurring at less than 1 in 1.4 million worked hours. Our work to eliminate forward-tipping dumpers and causes of vibration-related illness, are having a profound impact across the industry and our desire to improve and maintain positive mental health and wellbeing is undimmed.

“As a passionate advocate for improved gender representation in our sector, I’m particularly proud of the positive change in our gender pay gap. For a number of years we’ve been preparing the ground for this culture change, and our 2018 performance aligns with our aspiration to be the destination of choice for diverse talent in the infrastructure sector.

“BAM Nuttall draws on Royal BAM Group’s work in sustainability and innovation to shape our customer offering, and we collaborate across markets to modernise and develop the industry. Leveraging the combined capability of the group is a strategic differentiator in the UK, and these results demonstrate that we continue to deliver against the One BAM purpose of ‘creating sustainable environments that enhance people’s lives’.”