Profits soar at listed construction group

John Homer

nmcn, the Huthwaite engineering and construction firm, has posted big rises in both profit and turnover for the six months to 30 June.

The firm’s unaudited figures show revenues leap by 14% to almost £184m, while profits have soared by nearly 40% to £3.5m.

John Homer, chief executive, said: “These results demonstrate the continued progress made in the business against our strategic objectives. Our focus on profit improvement (profit before tax circa 38% ahead of last year) and cash generation (period end balance circa 36% ahead of last year) continues to show returns.

“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.”

Homer said the outlook for the remainder of 2019 and into 2020 is also looking positive with a secured order book for completion in 2019 of £356m likely to outperform the board’s positive expectation.

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