Friday, March 31, 2024
North Midland Construction reports pre-tax profit increase
North Midland Construction plc reported full year pre-tax profit rose to £3.945m from £3.278m a year earlier on an increase in sales to £153.1m from £106.4m.
Revenues at its civil engineering division rose to £54m and profitability exceeded budget, it said. Highways experienced difficult trading with a "debilitating drop" in revenue during the summer, due to a lack of tendering opportunities.
The company said it is proposing a final dividend of 5.0p a share, up from 4.0p a year earlier, resulting in a total annual payout of 7.0p, up from 6.0p. The company said all divisions of the group traded profitably, with the building subsidiary returning to former levels of profitability.
Revenues at its civil engineering division rose to £54m and profitability exceeded budget, it said. Highways experienced difficult trading with a "debilitating drop" in revenue during the summer, due to a lack of tendering opportunities.
The company said it is proposing a final dividend of 5.0p a share, up from 4.0p a year earlier, resulting in a total annual payout of 7.0p, up from 6.0p. The company said all divisions of the group traded profitably, with the building subsidiary returning to former levels of profitability.
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