Settlement Cambridgeshire Guided Busway does not impact BAM's profit forecast
Bunnik, the Netherlands, 2 September 2013 - Royal BAM Group announces that its British civil engineering company BAM Nuttall has reached a settlement with Cambridgeshire County Council about the Cambridgeshire Guided Busway project. The out of court settlement means Cambridgeshire County Council will have paid BAM Nuttall £84.7million to build the busway, against an original contract price of £83.9 million. As the local authority has already paid more, BAM Nuttall will repay £33 million.
This settlement has already been incorporated by Royal BAM Group in the half year figures, which have been presented 22 August. The repayment has therefore no impact on BAM's profit forecast for the year 2013.
Further information:
- press: Arno Pronk, +31 (0)30 659 86 21;
- analysts: Patrick Snippe,+31 (0)30 659 87 07.