BAM Group Net Profit Jumps 19%, Markets Remain Uncertain
20 Maggio 2010 - 8:37AM
Dow Jones News
Dutch construction company Royal BAM Group NV reported an
unexpected 19% rise in first-quarter net profit as profitability at
most of its units improved, but revenue dropped 13% as market
prospects remain uncertain.
The Bunnik-based company said net profit for the first three
months of 2010 rose to EUR9.9 million compared to EUR8.3 million in
the same period a year ago.
Revenue fell to EUR1.54 billion from EUR1.77 billion a year ago
due to poor winter weather and lackluster volumes in the
residential and commercial property markets.
Analysts had expected a EUR1 million net loss, while revenue was
seen at EUR1.63 billion.
The company reiterated it's expectation of EUR8 billion in
revenue for 2010, but said it is impossible to predict
profitability due to a high factor of uncertainty in all of its
markets.
-By Robin van Daalen, Dow Jones Newswires; 415-439-6468;
robin.vandaalen@dowjones.com
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