Contractor posts Q1 profit but building subsidiary makes 拢21,000 loss

Contractor North Midland Construction has seen profits rise by a third in the first quarter of the calendar to 拢0.6m on turnover of 拢38m.

In an interim management statement to the city, the firm said it had already secured work to generate turnover of 拢154m over the current financial year. However, the firm admitted that the building subsidiary had sustained a loss of 拢21,000 in the first three months from January 1st.

The firm said its banking facilities have been extended.

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