Revenue has surged towards the £200 million-mark at listed construction giant nmcn during the first six months of its financial year, new figures have revealed. Its pre-tax profits also jumped almost 40 per cent.
The business has posted a revenue of £183.9 million for the period to 30 June 2019, up 14.1 per cent from £161.1 million during the same time in 2018. The company’s pre-tax profits also jumped 38.4 per cent from £2.5 million to £3.4 million.
“These results demonstrate the continued progress made in the business against our strategic objectives. Our focus on profit improvement (profit before tax circa 38 per cent ahead of last year) and cash generation (period end balance circa 36 per cent ahead of last year) continues to show returns,” said Chief executive John Homer.
“We continue to invest significantly in the development of our people and the evolution of our employer brand. It is our firm belief that our people are the overarching differentiator in the service that we provide and the primary driver for our continued success. The outlook for future trading remains positive and provides the opportunity to maximise earnings from our operations. We are confident that the board’s expectations will be achieved, with net margins slightly exceeding 2 per cent,” he added.
nmcn added that its secured order book for completion in 2019 of £356m is “likely to outperform the board’s positive expectation”.
Its telecoms business has returned to the black with an operating profit of £500,000 while, as a whole, its built environment division grew its revenue by 6.3 per cent.
nmcn’s water business reported a 17.5 per cent revenue increase to £132.1m and a 14.2 per cent operating profit rise to £3m.
The group is headquartered in Nottinghamshire and has offices in Warrington, Warwick, Bristol, Cornwall, Kent, Leeds and Normanton.