Bam Nuttall had a “satisfactory” performance for its UK and Ireland division in the third quarter of 2023, according to its parent company.
In a trading update, Netherlands-based Royal Bam Group said its UK civil engineering arm had “good results supported by a high level of activity”.
But performance was “impacted by inflation and supply chain challenges on some larger contracts,” he said.
Ruud Joosten, CEO of Royal Bam Group, said: “Market conditions remain challenging as a result of high interest rates, political and geopolitical uncertainties and continued pressure to attract and retain staff.
“In this context, our order book remains at a good level of 9.4 billion euros, with a clear focus on the quality of order intake.”
Overall, the Dutch parent reported revenue of €4.5bn (£3.9bn) in the first nine months of 2023, down 8% on the same period in 2022.
And its order book currently stands at 9.4 billion euros, 7% less than in the first nine months of last year.
Royal Bam finished Construction news‘Contractors’ Monthly Table’ in July for the first time since 2020, after it was chosen to build converter stations at each end of a £2bn submarine cable between Scotland and England.
In July, Bam Nuttall shelved a plan to build a link road between the M54 and M6 motorways, valued at between £175m and £200m.
The civil division also leads the Linkconnex consortium, whose work on road improvement schemes has also suffered delays.
However, Bam said the cancellation of the Birmingham-Manchester HS2 leg had not affected its order book.
