NM Group (North Midland Construction Plc) has reported a strong start to the year, with half year results showing a turnover of £160.86 million – an increase of 19% compared to 2017.
Profits are also on the rise for the North Yorkshire-based engineering and construction company, with £2.51 million (pretax profit), which is an increase of 103.6% on last year (H1 FY17 restated: £1.23 million).
With a growing £320 million pipeline of work, it has a solid order book of work for the remainder of the year. Its strong cash position has also been reinforced with a 138.4% increase to £18.89 million (H1 FY17: £7.93 million).
Headquartered in Huthwaite, Nottinghamshire, NM Group has 12 UK offices and four off-site manufacturing facilities. Its 1700-strong team delivers major built environment and critical national infrastructure projects across the UK – from buildings and highways to large-scale water networks and treatment plants.
Chief Exec John Homer said: “It’s been a strong start to the year for our team. These results demonstrate the continued progress made in the business against our strategic objectives.
“Our focus on margin enhancement (104% ahead of last year) and cash generation (138% ahead of last year) is beginning to show returns and is anticipated to continue going forward.
“We continue to invest significantly in the development of our people and the evolution of our employer brand. It is our firm belief that our people are the overarching differentiator in the service that we provide and the primary driver for our continued success.
“The outlook for future trading remains positive and provides the opportunity to maximise earnings from our operations. The board is anticipating further revenue growth coupled with an enhanced margin percentage.”