LONDON (Alliance News) - NMCN PLC on Thursday said it sees further growth opportunities as its profit rose sixfold in 2018 on solid progress across most of its units.
The engineering and construction company reported pretax profit of GBP6.0 million in 2018 compared to just GBP1.0 million in 2017, while revenue rose by 17% to GBP340.5 million from GBP291.8 million.
In the Water segment, revenue advance 44% in 2018 to GBP244.6 million, reflecting an increase in major infrastructure works and "exceptional" customer service.
The Built Environment division delivered revenue growth of 27% during the year to GBP95.9 million, despite the Telecoms business unit continuing to be loss-making due to reduced levels of activity.
NMCN proposed a final dividend of 12.0 pence, taking the total payout for the year to 18.0p, tripled from 6.0p paid the year before.
"These results demonstrate further advancement against the targets in our strategic plan. They mark the achievement of a respectable milestone on headline key performance measures and provide a solid platform for further progress," said Chief Executive John Homer.
"There are positive signs of continued opportunities for us to grow in our chosen market sectors," Homer added.
NMCN shares were trading 7.7% lower on Thursday at 641.80p each.