Profit

BAM Ireland reports pre-tax profit of €10.7m for 2021

Construction company BAM Ireland said its turnover rose to €626.2 million last year from €460.8 million in 2020.

In its annual report for 2021, the company said it had recovered from the impact of the Covid-19 pandemic.

It recorded a pre-tax profit of €10.7 million for 2021, compared to a pre-tax loss of €16.9 million in 2020.

The company said 2020 was a particularly difficult year for the construction industry, and this carried over into 2021 as all non-essential construction projects remained closed in the first quarter.

Despite the challenges encountered throughout 2021, BAM said it continued to push forward a number of key projects.

These included the completion of outpatient and emergency units for CHI in Tallaght and a satellite site at the main campus in Dublin 8.

BAM Ireland said its future backlog has also improved, with a number of awards including Athy Distributor Road, a number of newly built National Schools in Dublin and Cork, and most recently as Kier BAM Joint Venture, a position on the £1.2bn Northern Ireland Major Water Project Partnership Framework.

“After a challenging 2020, these are strong results that underscore our commitment to our clients’ success in what continues to be a highly competitive market,” said Alasdair Henderson, Executive Director of BAM Ireland.

“As industry prepares to provide the modern infrastructure and built environment required by Irish society, we continue to play an active role in ensuring that the necessary skills, technology and procurement reforms are in place to achieve more effective, more sustainable and more predictable results for our clients,” he added.