Notts construction firm sees profits rise

Nottinghamshire construction and engineering company nmcn says it has made a good start to 2020, after releasing its Q1 figures this morning (25 June).

For the three months to the end of March, revenue increased by 3.7% to £97.9m and pre-tax profit was up by 5.9% to £1.8m.

However, nmcn says it operated at around 75% capacity during the Covid-19 lockdown, and that performance will be impacted for its second quarter.

John Homer, chief executive, said: “We had a good start to 2020 which is reflected in the performance of the business in the first quarter prior to the COVID-19 lockdown at the end of March. Throughout the lockdown we have remained operational where it is safe to do so and complied with all the relevant guidelines.

“I am truly proud of the conduct of all our people in this period of unprecedented challenges. They have responded with flexibility and commitment, reflecting the culture of nmcn that has evolved over many years.

“Challenges remain, but our order intake, balance sheet and positive cash position remain healthy. The non-discretionary spend required in our core markets will hold steady in any economic downturn and we expect to be able to benefit from this in future trading.”