A construction and infrastructure giant involved in major water and motorway projects has reported a 14.1 percent revenue increase for the first half of 2019, taking it to £183.9 million.
In a report for the six months to June 30, nmcn has also confirmed a 38.4 percent increase in pre-tax profit compared to the same period last year, rising to £3.5 million.
In addition, cash balances have increased to £25.8 million, while the company has a secured order book for completion in 2019 of £356 million.
John Homer chief executive officer at nmcn, based in Sutton-in-Ashfield, Nottinghamshire, said: “The first half of 2019 has been one of continued growth for the business across all sectors.
"We’ve seen significant increases across both revenue and operating profit along with a strong increase in our cash balances compared with the first half of last year.
“For the remainder of 2019 and into 2020 the outlook is also looking strong as we start work on several major contract wins. Amongst these is the first scheme to come from our place on the Highways England Regional Development Partnership – a £28m scheme for junction improvements to the M621, due to start in 2020 following the completion of the design stage later this year.”
The company, formerly North Midland Construction Plc and Nomenca Ltd, has also announced a return to profit on its telecoms business unit, with £500,000 operating profit reported for the six month period.
The built environment business unit, which includes highways and construction schemes, enjoyed revenue growth of 6.3 percent in the first half, meanwhile, with the water business unit revenue also increasing to £132.1 million for the same period.
Mr Homer added: “The board has been encouraged by the positive performance in the first half of the year and optimistic about the outlook for the second part of the year and beyond. Our forward order book is strong and we continue to invest in our people and our infrastructure for the future.”
