Bam Nuttall Profits Fall 41%
Posted on: 23/02/2015

UK Construction provider Bam Nuttall has recently displayed a 41% decline in pre-tax profit, this comes despite an overall 4% increase in revenue.

The firm reported to Companies House, an external accounts company, a pre-tax profit for 2014 of £10.7m, a substantial decline of £18m in comparison to their 2013 profits. Their revenue however actually saw an increase to £756m, an improvement of £26m from 2013.

Chief Executive Stephen Fox said: “this reduced margin reflects the difficult trading conditions experienced during 2013.” But he continued that these results as “solid” and reminded stakeholders that its order book “remained very strong” at £943m at the end of 2013.

Fox commented further: “We are encouraged by the improved future business opportunities that now exist in the civil engineering market.”

In response to these profit falls Bam Nuttall has responded by reducing pay for its five directors, these renumerations totalled over £200,000 in profit saves for the firm between 2012-2013.

Despite pay cuts for those higher in the positions, Bam has continued to expand their workforce showing that the company is not overly troubled by these profit warnings.

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