Black hole at building arm set to send NMCN losses beyond already flagged £24m

By Dave Rogers2021-07-20T14:45:00

Firm issues another profit warning and promises delayed 2020 accounts next month

The scale of the problems facing new NMCN chief executive Lee Marks and would-be saviour Svella deepened today when the firm admitted that more problems at its building arm would send overall losses at the group “significantly in excess” of the £24m the firm had already warned investors about in May.

The latest blow was delivered in a stock exchange announcement following the listed civils contractor’s general meeting this morning.

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