BAM maintains profit forecast for 2008
- Good start in 2008
- Net result for the first quarter of 2008: €51.6 million
- BAM mainly positive about markets
- Order book up to €14.3 billion as of 31 March 2008 (+4%)
- Result outlook 2008 maintained: net profit of at least €250 million feasible
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Course of business during first quarter of 2008
Royal BAM Group has started the year well. Just as in previous years, seasonal effects complicate the interpretation of the results for the first quarter. Revenue rose by about 9% to approx. €1.87 billion (2007: €1.72 billion). Excluding the effect of currency exchange rate differences, revenue rose by about 13%, of which 2% was the result of acquisitions. The decline of the British Pound in particular has had a negative effect on the Group?s revenue and results compared to 2007. This was one reason why the result before tax fell slightly to €65.7 million (2007: €66.5 million). The decline in the margin before tax to 3.5% (2007: 3.9%) is also due to a proportionally high contribution to the result by AM in the first quarter of 2007. The net result for the first quarter of 2008 is €51.6 million (2007: €54.0 million).