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| BAM starts a 2009 with low results Dutch builder Royal BAM said it's experiencing the radical change in market conditions at the start of 2009. Furthermore - as in previous years - seasonal influences affect the interpretation of the results for the first quarter. Revenue reduced by about 5% to €1.78 billion (2008: €1.87 billion). However, taking account of the impact of currency exchange rate fluctuations, revenue remained at the same level as in the first quarter last year. The consequences of the economic crisis are reflected the most in the Property and Construction sectors. The results were lower than last year in virtually every sector; in the Property sector was a loss. The total result before tax decreased to €9.6 million (2008: €65.7 million). Net results for the first quarter of 2009 amounted to €8.3 million (2008: €51.6 million). write your comments about the article :: © 2009 Construction News :: home page |