BAM Group Net Profit Jumps 19%, Markets Remain Uncertain

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

Royal BAM Group NV (EU:BAMNB)
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