North Midland Construction Group today reported a 138.3% increase in half-year profits for the six months to 30 June 2017, up from £0.51m (H1 FY16) to £1.22m, and announced that it will double its interim dividend payment.
Revenues for the period increased by 4.3% from £129.5m to £135m. An interim dividend of 3p has been proposed – up from 1.5p per share for the six months to 30 June 2016.
North Midland Construction Group Chief Executive John Homer, said: "These results demonstrate the continued strategic advancement made in the business during the trading period. Our focus on enhanced margins and cash generation is beginning to become apparent and is anticipated to continue going forwards.
“We continue to invest significantly in the development of our talent pool as we believe that our people are the overarching differentiator and the driver for our continued success.
“The outlook for our future trading remains positive and provides the opportunity to further improve the earnings from our operations. The Board is anticipating enhanced like-for-like revenue growth in the second half of the year, coupled with an enhanced operating margin percentage."
To see the full results click here.