BAM on course after 'cold start'
- Net result for the first quarter of 2010: €9.9 million
- First quarter revenue €1.542 million
- All sectors profitable except Property
- Order book rises to €11.5 billion
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Course of business in the first quarter of 2010
In the first quarter of 2010, Royal BAM Group experienced an exceptionally long cold spell in all its home markets. This has reinforced the seasonal pattern and made it more difficult to interpret the results for this period. Partly as the result of the severe winter and low volumes in the residential and property markets in particular, revenue declined by about 13% to €1,542 million (2009: €1,772 million). All sectors ended the quarter in profit, with the exception of Property, which made a small loss. The result before tax rose to €11.5 million (2009: €9.6 million). The net result for the Group for the first quarter of 2010 amounted to €9.9 million (2009: €8.3 million).