Firm gives no further update on how much it has lost on Co-op Live scheme
Group revenue at Bam was up to more than €4.5bn (£3.7bn) in the first nine months of the year but said its earnings were hit by delays on school jobs in the UK and Denmark.
In a third quarter update, the firm, which is listed on the Dutch stock exchange, said income rose 2% to €4.6bn (£3.8bn) with adjusted earnings, which excludes restructuring costs, impairments and one-off pensions costs, up 2% to €203m (£169m).
But chief executive Ruud Joosten said earnings had been affected by “project delays and supply chain issues at school projects in Denmark and Construction UK”.
It said the firm’s civils business in the UK, Bam Nuttall, “delivered strong results” and added there was an “attractive pipeline” of education work in the UK.
The firm gave no update on its job to build the Co-op Live area in Manchester.
Earlier this year, the boss of Co-op Live said Bam has “lost a lot of money” on the scheme, saying the cost of the project had gone up from £365m to £450m.
In its interim results in August, the Dutch contractor said UK construction racked up a €23.6m (£19.7m) loss during the period which it blamed on project delays and supply chain issues “and included a substantial loss in the second quarter of 2024 for Co-op Live in Manchester”.
Bam will announce its 2024 results on 13 February.
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