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Chief Executive’s statement
Despite the challenging market conditions, arising
from the recession and the substantial spending cuts imposed
by the new government, BAM Nuttall has had another very successful
year.
The financial results reinforce our position as one of the
UK’s leading civil engineering businesses.
Turnover reached a new record of £694.8 million. Pre
tax profit at £15.7 million is down on 2009 levels but
exceeds the forecast at the start of 2010 and still represents
an industry leading percentage result. The forward order book
also stands at a new record level of £967 million. This
reflects the significant contracts that were secured in 2010
including Victoria Station Upgrade, managed Motorways, Crossrail
Station Caverns and Western Running Tunnels, Luton Dunstable
Guided Busway and Northumbria Water Framework. Our focus is
on pursuing work with secure funding and adopting selective
bidding practices, including continuing to work with our carefully
selected partners.
We are continuing to work in combination with BAM Group Companies
and also with some of Europe’s other leading construction
organisations where appropriate in order to leverage our business
into a superior and sustainable market position.
This year has been pivotal in the development of our Beyond
Zero thinking. Throughout our business, from the boardroom
to the worksite, the meaning of Beyond Zero has started to
become consolidated into the very essence of what BAM Nuttall
is about.
2010 proved to be our best ever year in Health and Safety
performance with the total number of lost
time incidents down by 40% and those resulting in more serious
injuries showing a 25% reduction, both on 2009 figures. The
use of Observation Cards has increased significantly, indicating
a further
improvement in our workforce engagement in accident prevention.
We were awarded a number of
important Construction Industry Safety Awards including RoSPA,
Construction News and Network Rail.
Beyond Zero is also about seeking to eliminate our detrimental
impact on this planet and it is
encouraging to see that we have again made significant improvements
in our effort to reduce
greenhouse gas emissions. We have recorded a 16% reduction
in 2010, due mainly from a reduction in the use of gas oil
on our sites, 3 million litres less than in 2009. We also
recorded a 35% reduction in electricity demand in 2010 which
indicates real progress in this important area. However some
aspects of our carbon footprint are very sensitive to the
type of work we undertake.
Also very encouraging is our performance in reducing waste
sent to landfill. Our efforts in 2010 mean that we have now
seen a 70% drop since 2008 and this puts BAM Nuttall ahead
of the 2012 WRAP 50% target.
More details of our carbon footprint and waste, together
with other aspects of our progress towards Beyond Zero can
be seen on the latest update of our sustainability report,
available via the BAM Nuttall website.
Our continuing and growing investment in learning and development
has seen increasing employee engagement and motivation. All
learning and development activities for all our employees
are now being delivered through our BAM Nuttall Academy, which
ensures rigorous standards and quality, and integrates the
development opportunities across all disciplines and at all
levels.
Our successful apprenticeship programme continues to expand
and is keenly sought after by potential candidates.
On behalf of the Board, I would like to thank all BAM Nuttall
employees and our supply chain partners for their contribution
towards achieving our 2010 results.
Stephen Fox
Chief Executive
Our vision is simply
to be; everyone’s preferred civil engineering company
with contemporary views and a sustainable future |
