North Midland Construction sees profits double

By Hamish Champ2018-08-10T06:00:00

Focus on margin improvement is paying dividends, says chief exec

North Midland Construction, the Sutton-in-Ashfield-based contractor, has reported a doubling of first half pre-tax profits, boosted by strong performances in its highways, water and construction operations.

The group said turnover for the six months to the end of June rose 19% to £161m and pre-tax profit increased by 104% to £2.5m. It also more than doubled its cash position to £18.9m.

While the firm’s telecoms business made a £1.6m loss the deficit was compensated by the construction division’s operating profit of £1.22m on near-doubled revenues of £22m.

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