North Midland Construction (NMC) has reported a 15.11% revenue increase in its final results for the year ended 31 December 2016.

With turnover up to £250.49 million (2015: £217.61m), pre-tax profit rose to £2.06m from just £606,000 last year.

The company continues to be affected by loss-making legacy contracts, which were agreed upon before 2013 at the height of the global recession.

NMC said while these deals have "negatively impacted" the Group over the last four years, onsite works have now been completed and only one legacy contract remains as of 31 December 2016.


Looking forward, the Group's future workload is valued at around £225m (2015: £181m), equating to around 80% of 2017 budgeted revenue.

Chief Executive John Homer, who joined the company last year, said the results "demonstrate the considerable strategic advancement made in the business over the last year".

"Progress is being made to strengthen the quality of the service that we provide to our customers," he said.

"We continue to receive positive feedback on our operational performance from across our stakeholder base.

"There are positive signs of continued growth in our chosen market sectors. Our strategy is focused on realising the potential that exists for us to prosper through careful selection and execution of the work that we take on. Our forward order book is at 80% of this year's budgeted turnover with a healthy pipeline of future opportunities visible.

"The outlook for our future trading remains positive and provides the opportunity to further improve the earnings from our operations."

(LM/MH)