PRESS RELEASE

Nuttall breaks turnover record and maintains profitability

Edmund Nuttall Limited had an excellent trading year during 2007. Turnover improved significantly to a new record level of £594 million whilst a pre-tax profit of £19.2 million represented a margin of 3.2% confirming the company’s position as a leading civil engineering company in the UK market. The forward order book stood at £640 million at the year end [31st December 2007], with a further £200 million of orders pending; that were realised in the first two months of 2008.

The health and safety of our workforce remains our number one priority. In 2007 we launched our long-term vision ‘Beyond Zero’. This vision will involve the total engagement of our workforce and our supply chain to adopt new standards and behaviours in our quest to totally eradicate reportable accidents. Our incident frequency, which measures the total number of reportable accidents held firm at 0.55, a figure which represents one of the best performances in the industry. This performance has been recognised with the receipt of 12 RoSPA gold awards and the Contactor Safety Award from the Atomic Weapons Establishment and World Class Safety- Best Project from the Highways Agency.

Nuttall people remain at the heart of our constant consistent performance. In return an excellent training and career development programme is offered. We have 180 postgraduates currently undergoing training with us and have issued a total of over 3000 NVQ certificates to enhance the skills of our 1500 strong operative workforce. At the end of 2007 our ‘Investors in People’ status was renewed further underpinning our commitment to developing people.

In 2007 sustainability was placed firmly on our agenda with the appointment of a director with specific business process and sustainability responsibilities. Our health, safety, environment and responsible business policies were strengthened to ensure that all Nuttall people give equal consideration to economic, environmental and social engagement matters.

Our environment and community performance is monitored by an extended team of internal auditors and by compliance with the Considerate Constructors Scheme. Our involvement with major and remediation projects, such as the 2012 Olympic Games and Ebbw Vale steelworks keeps us at the leading edge of technology and environmental performance targets. Working with organisations like WRAP and Business in the Community will ensure that our project teams remain focussed on the specific requirements of a project and its impact on the environment and the community.

The company strategic vision is to maintain a balanced portfolio of projects across a broad number of sectors within the civil engineering market. We are also looking to develop new and exciting sectors such as waste and energy and capitalise on our in-house geotechnical, design, mechanical and electrical capability.

Last year we strengthened our position in the energy from waste with two significant project awards from SITA at Billingham and West Sleekburn.

Marine engineering continues to provide an opportunity for Nuttall to demonstrate our design and construction skills with contract awards at Great Yarmouth and the Humber Sea Terminal.

Frameworks continue to provide important long-term customer relationship programmes, with projects continuing with South West Water, Network Rail, Cheshire County Council, the Highways Agency, Defence Estates and National Grid.

Working with other BAM Group companies from across Europe demonstrates the added value Nuttall can bring to our customers. Financial, technical and human resources expertise can be combined to meet the specific needs of a project. Good examples of this can be seen in the marine and power sectors. The Btitned AC/DC Interconnector is a joint venture arrangement between Nuttall and BAM Civiel. The £50 million construction of a new port in Great Yarmouth benefits from a joint venture arrangement between Nuttall and Van Oord.

Notes to Editors

Nuttall is one of the UK’s leading civil engineering contractors, with a current turnover approaching £600 million. The company operates throughout the country and has a strong regional presence with over 20 offices and plant depots. Nuttall is an operating company of the Dutch based construction company Royal BAM Group, which reported for 2007 a consolidated net result of € 349 million and a turnover of € 8.95 billion.

Further Info

For further information, contact Peter Bishop, Head of Public Relations at:
Edmund Nuttall Limited
St James House, Knoll Road, Camberley,
Surrey GU15 3XW
Tel: 01276 63484
Fax:01276 66060
E-Mail: peter.bishop@edmund-nuttall.co.uk