BAM on track after good first half-year 2008
- Net result in first half-year 2008: €131.0 million (+10%)
- Revenue in first half-year 2008: €4.2 billion (+10%)
- Good performance in the United Kingdom
- Lower residential sales from own property developments in the Netherlands
- Order book on a high level: €14.3 billion as of 30 June 2008
- Profit outlook 2008 raised: net profit of at least €260 million
- Share BAM included in AEX index from September 2008
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Course of business during first half-year of 2008
Royal BAM Group has had a good first six months. Revenue increased by approximately 10% to €4.2 billion (2007: €3.8 billion), with virtually every sector contributing towards this growth. Excluding the effect of exchange rate differences, revenue actually increased by approximately 14%, around 2% of which resulted from acquisitions. The depreciation of the pound sterling had an adverse influence on the Group?s revenue and results in comparison to 2007. Despite this impact, and the comparatively high contribution to the result by AM in the first six months of last year, the result before tax increased to €165.6 million (2007: €154.9 million). The margin before tax fell slightly to 3.9% (2007: 4.0%). The net result for the first six months of 2008 increased by approximately 10% to €131.0 million (2007: €119.1 million).