Building sector woes force Bam into the red

Construction company BAM posted a loss of €187m last year, compared with net profit of €126m in 2011, as the effect of the crisis on building firms deepens.

Turnover on continuing operations was €7.4bn, down from €7.7bn in the previous year and margins fell by 0.5 percentage point to 1.4%.

Chief executive Nico de Vries said in a statement the Dutch market has deteriorated and conditions in the company’s four other main markets remain challenging.

While it is still too early to give a concrete full-year forecast ‘we currently see no reason to assume 2013’s performance will differ from our operational performance in 2012,’ De Vries said.


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