Good performances by BAM result in higher profit forecast
- Net result for the first nine months of 2007: €192.6 million
- Turnover for the first nine months of 2007: €6.4 billion (+10%)
- German operations developing in accordance with expectations
- BAM mostly positive about present market conditions
- Further increase in order book: €13.7 billion (+12% on a comparable basis)
- Outlook for 2007 raised: net profit of at least €310 million
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Course of business during first nine months of 2007
Royal BAM Group performed well during the first nine months of 2007. Net profit rose to €192.6 million (2006: €68.5 million), with contributions to the higher profit coming from all sectors. The increase in the result is also related to the recovery of the German results. Turnover rose by approximately 10% to €6.4 billion (2006: €5.8 billion). The increase in turnover was largely the result of organic growth. The impact of acquisitions on the increase in turnover was approximately 1.4%.
The formal completion of the sale of US operating company Flatiron will soon take place. Flatiron's turnover and results will be consolidated up to the end of the third quarter of 2007, and the book profit of approximately €70 million will be accounted for in the fourth quarter of 2007.