nmcn sees profits rise steeply after strong 12 months

Huthwaite-based construction giant nmcn has seen its revenues and profits jump sharply for the year ending 31 December 2019.

The firm saw turnover leap by almost 19% to £404.7m whole profits before tax rose steeply by just under 24% to £7.4m.

John Homer, chief executive, said: “The 2019 results reflected a strong underlying performance with good progress towards achieving the targets of our strategic plan and building a solid platform for further growth. The strength of our ongoing operations allowed us to continue to exercise rigour in the work that we chose to take on whilst our people remained the overarching differentiator and their performance in delivering our strategy continues to vindicate investment in the development of our talent pool.

“Our focus on cash maintained positive balances throughout the year and culminated with a year-end balance of over £25m. This has enabled us to continue investing in our own development pipeline and complete our first acquisition for many years.

“In the near-term we need collectively to focus on confronting the implications of COVID-19 and I am convinced that the commitment of our highly skilled and dedicated workforce will once again be a major factor in achieving this as a priority. But equally, we should not lose sight of the fact that the company is increasingly well placed to address the growing opportunities that lie ahead in the markets it chooses to serve.”