Royal BAM adjusted pretax profit up 57%

Koninklijke BAM Groep NV’s (BAMNB.AE) adjusted pretax profit soared 57% in the first nine months of the year, the Dutch construction company said Thursday, backing its full-year guidance.

BAM Groep said its adjusted earnings–which strip out restructuring costs, impairments and other one-offs–rose to 93.6 million euros ($107.2 million), from EUR59.4 million in the year-earlier period.

Revenue in the first nine months of the year rose 7.8% to EUR5.04 billion, the group said.

During the period, BAM said it booked a non-cash impairment worth EUR23 million in relation to regional property positions in the Netherlands.

The company’s order book at the end of the nine months stood at EUR11.9 billion, up from EUR10.8 billion a year ago.

BAM reiterated its full-year guidance and said it expects an adjusted pretax profit margin of around 2% in 2018.

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