North Midland Construction posts record £211m

Nottinghamshire-based North Midland Construction (NMC) has posted record revenues of £211.3m for the year ended 31 December 2007.

The company’s preliminary results show an increase of 20.4% over the previous year and for the first time revenues have topped the £200m mark, despite a drop in pre-tax profits to £3.1m.

On a group level, subsidiary North Midland Building has finished the year £3.2m in profit thanks to a diverse portfolio of schemes including student accommodation, office, prisons and defence work.

And Nomenca, NMC’s mechanical and electrical subsidiary, posted record revenues of £45.3m, with profitability increasing to £1.3m, thanks to breakthroughs in Scotland and the South-West.

The civils side of NMC’s business recorded an annual revenue increase to £88.2m, but losses on two major deals depressed profitability.

And the contractor’s utilities division suffered a difficult year, because of expenditure cutbacks by BT and a major loss on a lump-sum contract in Kent.

For the first time, NMC has issued a separate report on activities such as using recycled materials on site, charity work and involvement in an Engineering Education Scheme with a local school.