North Midland Construction sees profits fall

Losses in Nottinghamshire-based construction firm North Midland Construction’s utilities division have cut profits by more than a half, it was revealed this morning (13th August).

NMC posted profits of £136,000 on revenues of £107m, down from £371,000 in 2014. The company is blaming the fall in profits on a BDUK contract for Carillion Telent, which resulted in an operating loss for the period of £830,000. The company has now terminated the contract.Robert Moyle, chairman of NMC, said: “The payment of an interim dividend is considered to be inappropriate.”