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| Royal BAM Group Maintains Profit Forecast for 2006 In the first quarter, Dutch construction company Royal BAM Group achieved a turnover of approximately €1.75 billion (2005: approximately €1.46 billion). The net result was €31.4 million (2005: €23.0 million). The increase in turnover and result is partly due to the financial consolidation as of 1 February of the 51% participating interest in AM. Property developer AM operates independently and with its own identity in the Dutch market at arm's length from BAM. Royal BAM Group started the year well but – as was the case in previous years – seasonal influences make it difficult to interpret the first quarter results. In Germany, the activities of the Wayss & Freytag companies made a loss (approximately €9 million). The order book is at a record level and amounts to €12.3 billion as of 31 March 2006 (at year-end 2005: €10.4 billion). Royal BAM Group is maintaining its previous forecast for 2006. The Group expects to achieve a turnover in 2006 of approximately €8 billion, in which case a net profit of approximately €170 million is considered feasible. write your comments about the article :: © 2006 Construction News :: home page |