Construction company BAM saw its net profit fall 84% in the first three months of this year. Earnings totalled €8.3m, compared with €51.6m in the year-earlier period.

BAM said it was being hit by the economic crisis on all fronts but is buoyed by its ‘strong’ order portfolio.
In particular, BAM’s housing division has been affected by the downturn. In the first three months of this year the company sold 195 new homes, compared with 810 in the first three months of 2008.