http://www.northmid.co.uk/

Trading update 2018

The Board is pleased to announce that the progress reported, on 9 August 2018, with our Interim Results, for the six months ended 30 June 2018, is continuing into the second half of the financial year.

0n 25 January 2018, we announced that the order book for 2018 stood at approximately "£257M which is just under 80% of the Directors' revenue expectations for the current year." with targeted "net margins of between 1.5 and 2.0 per cent for the current year".


The Directors are now confident that revenue for the current year will exceed these full year expectations and anticipate revenue being circa £340 - £345 million, with net margins within the anticipated range previously set out above, but more specifically between 1.7 - 1.8%.

New single Company identity and brand

I expect it will do it's usual thing, which is it will drift lower until the results and then explode upwards again when they arrive.

HR director buys £45k of shares at 550p.

With the spread now 520-540 I can confidently say we are over £5. Not a bad result since my post in June when it was around 330 to buy.

Good call, CC. Missed it.

Thanks Iturama. CTO might be worth a look as it's same sector and still provides clear value.

Today's NMD news:
http://www.northmid.co.uk/media-centre/news/nm-group-named-in-%C2%A3100m-highways-england-regional-delivery-partnership
We have been awarded a place on Highways England's Regional Delivery Partnership to deliver major projects worth up to £100m across the motorway and trunk road network.

Partnering with design consultants BWB Consulting, our specialist construction business has won one of just six available places within band A of the framework, which involves delivery of work packages over a six year period

continues...

NMD rebranding

North Midland Construction and its subsidiary Nomenca are being rebranded as nmcn as a national recruitment drive gets underway.


John Homer, chief executive of nmcn, has launched the group into expansion
The expanding business has a growing £700m project pipeline, after securing a series of major built environment and water industry contracts during 2018.

It is now starting the hunt to find talented people to join its 1800-strong team across 12 UK offices, off-site build and fabrication facilities.

Head office expansion plans are also underway.

John Homer, chief executive of nmcn since 2016, said: “We are in a robust industry position and the launch of the nmcn brand signals the start of a new growth era for us.”

“Revenues have continued to rise, our cash position remains solid and a series of major contract wins are feeding our growing pipeline of work for the next five years and beyond.

“We are therefore looking to extend our team with an intensive recruitment campaign running over the coming months.”

Revenues have surged 76% during the last five years for the £340m turnover company.

Recent major contract wins include the £55m Bellozanne Treatment Works in Jersey, the multi-million Highways England’s Regional Delivery Partnership and South West Water Civil Engineering K7 Capital Works and MEICA frameworks.

Now working with 10 of the biggest water providers, Homer said several large-scale infrastructure contracts wins were instrumental in nmcn’s progression to becoming the largest multi-disciplined contractor in the water sector.