BAM raises profit outlook for 2007 after a good first half year
- Pre-tax result in first half year 2007: €166.8 million (+28%)
- Net result in first half year 2007: €126.3 million (+41%)
- German operations developing in accordance with expectations
- Order book again at record level: €14.7 billion
- Outlook for 2007 raised: net profit of at least €230 million
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Course of business during first half year 2007
Royal BAM Group has had a good first six months. The net profit rose by 41% to €126.3 million compared with the same period last year (2006: €89.8 million). Turnover increased by more than 6% to €4.1 billion (2006: €3.9 billion). Most of the increase in turnover came from organic growth: the effect of acquisitions was approximately 1.5%.
Virtually all sectors contributed to the increase in profits. The rise in the results of the Construction sector was realised primarily in the United Kingdom and Belgium, and is also closely related to the improvement in the German results. In the Property sector, AM’s contribution to the results over the first six months of 2007 was comparatively high. However, at the same time the results from property development in the United Kingdom were lower. The increase in profits also stemmed from the higher results of BAM PPP and Tebodin, and from a considerably lower tax burden during the first six months of 2007.
