Construction firm BAM Ireland recorded a 22% rise in profits last year as a number of big domestic and international projects, allied with improving demand in the office sector, pushed pre-tax profit to €7.5m.
Theo Cullinane, BAM Group Ireland chief executive, said the company had a strong performance last year. He said: “We had a strong performance in 2013 and improved and strengthened our financial position through a number of significant projects… While general construction activity remains challenged, there is an increase in private sector investment particularly in the office sector, driven by FDI demand.
BAM has been involved in a number of construction projects in the last year, including the Newlands Cross road project near Tallaght, the redevelopment of the Ulster Hospital and the science building refurbishment and extension at Sligo IT. BAM’s wage and salary costs rose by almost €5m as its workforce increased to an average of 681 employees over the course of the year.
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