Margins rising as nmcn enjoys strong start to the year

Fantastic to see nmcn in the headlines this morning - great to see East Midlands based construction firms posting positive results. 

A positive start to the year has seen net margins improve to a “more satisfactory level” of 1.85% at contractor nmcn.

The firm’s built environment division returned to profitability during the period following a turnaround at the Telecoms unit.

The core water business continued to boom with revenue up 41.1% to £70.2m on the same quarter last year while profits doubled to £1.53m.

Cash flow at nmcn continued to be “very positive” with some of the money invested in the company’s growing housing division.

The firm’s first housing scheme in Nottingham is now complete with two more under construction in Sutton-in-Ashfield and Southwell with another two sites in the pipeline.

All the building work is being undertaken by nmcn’s construction division and the net cash requirement for the housing development pipeline is £14m.

The company added: “The outlook for the current year is positive and we expect further progress, strategically, operationally and financially to be made. 

“Our secured workload for completion this financial year stands at £342.0 million and we are confident that further orders will be forthcoming.”

Writen by Grant Prior - Construction Enquirer

http://www.constructionenquirer.com/2019/05/16/margins-rising-as-nmcn-enjoys-strong-start-to-the-year/