Firm adds supply chain problems hit humbers during period

Inflation and supply chain problems in the UK meant turnover in the third quarter at Bam’s UK and Ireland business fell, the firm said in a trading update yesterday.

It said the problems had mainly hit larger jobs in the UK while its business across the Irish Sea remained stable. And it added its UK order book had been reduced after a government review of spending on roads.

Group revenue for the nine months to September was €4.9bn (£4.3bn), a fall of 15% on the same period last year after disposals which included selling German tunnelling firm Wayss & Freytag that completed in September. Bam booked a €52.3m (£46m) profit on the sale which helped earnings rise 26% in the first nine months to €281m (£245m).

The firm said it was cooperating with Dutch authorities over “potential irregularities at some already completed projects” carried out by Bam International which is being wound down by the business. The investigation was made public last month after officials from the Dutch Public Prosecutions Office visited BAM International’s offices in Gouda near Rotterdam.

Bam’s group order book during the period was €10bn (£8.7bn).

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