Company Report: BAM Contractors
BAM Contractors (NI) is a general civil engineering and building contractor established in Belfast in 2010.
The Northern Ireland company is a subsidiary of Irish-registered BAM Contractors, which is, in turn, a subsidiary of Dutch business Royal BAM Group nv.
Business turnover was slightly lower in 2016 than in the previous year. However, the company points out that it successfully executed a balanced mix of work in both civil engineering and building.
In 2016, the company completed the A31 Magherafelt bypass and a new inpatient Ward Block at the Ulster Hospital as part of a larger redevelopment programme. New contracts have been obtained for further work in a new maternity facility at the Royal Victoria Hospital and in the acute services block at the Ulster Hospital.
Last year, the balance of work contributed to a large increase in the recorded levels of operating and pre-tax profits.
Direct employment by the company remains relatively small, at just 13 employees. The operation does not hold any physical assets.
However, to finance the business, it has arranged funding to finance continuing transactions.
During 2016, the outstanding level of funding, repayable within one year, fell sharply from over £17m to just over £10m.
In the absence of any dividend payments, the increase in pre-tax profits led to a significant increase in the end-year balance sheet value of shareholders funds.