Sign In
18 Feb 2016 07:00
North Midland Construction Plc (the "Group")
TRADING UPDATE
North Midland Construction PLC provides a trading update for the year to 31 December 2015.
The resolution of certain previously referred to legacy contracts across the Group has now been concluded and the settlement figures expected have not been achieved, resulting in additional total losses of £3.1 million. This leaves only one problematical legacy contract to conclude.
Despite these negative settlements, due to strong underlying trading, management still expects an unadjusted profit for the full year, albeit significantly below previous management expectations.
The order book for completion this year currently stands at £195 million and the Board is confident about the outlook for the year.
Contacts:-
North Midland Construction PLC 01623 515 008
Robert Moyle, Chairman
Dan Taylor, Finance Director
Follow the stocks
