In an interim management statement covering the period from the start of the year until now, NMC said: “The economic climate remains very difficult, particularly for the construction sector.
“However, the significant amount of framework contracts secured are still providing an adequate workload. 62% of projected revenue is already in place, but there is a requirement to win some contracts in the short term.”
Contracts for the construction of two new fire stations have been secured within the last month by North Midland Building.
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All of the group’s divisions and subsidiaries are currently trading profitably, although turnover and profit has been running at a lower level than for the comparable period last year.
NMC says that it is confident that the full-year forecast can be attained but not without cost as “to achieve this forecast the group has had to reduce costs” and that has resulted in “some redundancies”.
