Profits down at Nomenca

Nomenca, the m&e division of North Midland Construction, has released its interim results for the six months to 30 June 2009. Turnover was down 4% on the previous year to £20.9m, while profitability fell to £0.29m from £0.48m in the same period in 2008.

Overall, North Midland Construction saw revenue down to £71.3m from £103.5m for the same period in 2008 but profit before tax was up to £1.4m from £0.8m the previous year.

“The economic situation continues to remain very difficult,” said chairman Robert Moyle, “and whilst many tenders have been submitted, few contracts are being commenced. Across the Group cutbacks in expenditure on framework contracts are also being experienced, particularly in the water sector. There is a requirement, therefore, to secure further workload.”