A wellingborough construction firm, which has increased its profits in 12 months from £19.3 million to £27 million in 2018 is committed to investigating ways to generate higher levels of profit to enable growth.
Rixon Road based BAM Construct employs 100 people at its UK plant hire operations in the town.
With no debt and £83 million cash reserves the company has an impressive order book of £1.76 million. It has also reduced carbon emissions to an all-time low of 11,488 tonnes.
Turnover fell slightly by 0.3 per cent to £949.8 million over the same period.
James Wimpenny, chief executive, said: “We cannot earn enough from construction alone to provide the investment we need in our people and the technology they need for the future.
“We have therefore embarked on feasibility studies for potential work streams that would generate higher levels of profit to enable growth.
“Our customers appreciate the consistent performance we deliver. Our increased profitability reflects our business reducing risk by selective tendering and working smarter.
“Ultimately this consistency benefits both us and our clients in a sector which has experienced recent instability.”
He added: “We are assisted by having a good balance of work between the private sector (58 per cent) and public sectors (42 per cent) and 65 per cent of our work is repeat business.
“There will be no sudden moves. Entry to new markets will be carefully planned with assistance from experts inside and outside the Group.”
BAM is owned by the 150-year-old Royal BAM Group – early projects include the Tate Gallery, the Natural History Museum and Park Lane Hotel.