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North Midland raises revenue expectations for 2018

North Midland Construction has raised its turnover expectations for 2018 in a trading update.

The contractor said anticipated revenue for the year would be in the region of £340m-£345m, with a net margin between 1.7 per cent and 1.8 per cent.

In January the firm reported that its 2018 order book stood at £257m – just under 80 per cent of the board’s revenue expectations for the year.

Today’s update revealed that the company’s order book for next year stands at £222m.

North Midland also announced it had secured a £50m design-and-build contract for a sewage treatment works in Jersey.

The deal to build the Bellozanne Sewage Treatment Works for Jersey’s Department for Infrastructure will be carried out in joint venture with Doosan Enpure.

Last week North Midland was confirmed as the sole contractor for a £225m deal covering civil works across South West Water’s AMP7 funding period.

The business added today that work on the Jersey project and South West Water programme would begin in the coming months.

North Midland is also preparing to relaunch the group under one brand, with a new logo to be revealed next month.

Chief executive John Homer said: “Our focus on cash management is performing well and providing positive cashflows for investment opportunities.

“Our people and our culture will remain our overarching differentiator for further success. We will continue to invest and drive progress in this area.”

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