Buy
Sell
Share Name Share Symbol Market Type Share ISIN Share Description
Nmcn Plc LSE:NMCN London Ordinary Share GB0006452857 ORD 10P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.0% 225.00 220.00 230.00 225.00 225.00 225.00 1,323 08:00:27
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Construction & Materials 404.7 7.4 57.4 3.9 23

NMCN PLC Trading Update and Notice of Results

23/02/2021 1:23pm

UK Regulatory (RNS & others)


Nmcn (LSE:NMCN)
Historical Stock Chart


From Feb 2021 to Apr 2021

Click Here for more Nmcn Charts.

TIDMNMCN

RNS Number : 0764Q

NMCN PLC

23 February 2021

23 February 2021

Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR).

NMCN PLC

("nmcn" or "the Company" or "the Group")

Trading Update

and

Notice of Results

Following our announcement of 23 December 2020, additional costs on two major contracts within the Water division, have been identified which the Board believes could aggregate on a prudent basis to a further GBP5.0 million of losses in FY 2020. A significant proportion of these losses are attributable to COVID-19 and programme delivery delays, as well as costs associated with process commissioning and handover.

As a consequence of these developments, the Group is now likely to report losses before tax of up to GBP22 million for the year ending 31 December 2020. In cash terms there will be a limited short-term impact given that the extra costs will be spread over a period of 28 months.

Subject to the approval of a resolution to extend the borrowing limit within the Company's articles at the General Meeting on the 26 February 2021, the Company expects to complete on a medium-term financing package secured against its property development projects shortly thereafter. The Board will continue to work with Arrowpoint Advisory to determine a longer-term financing structure in the coming months.

Notice of results

It is anticipated that the 2020 preliminary results will be released by the end of April 2021, at which time a further update on trading will be provided.

Enquiries:

nmcn Plc - 01623 515008

Ian Elliott, Acting Chairman

Robert Moyle, Acting Chief Executive

Alan Foster, Chief Financial Officer

About nmcn

nmcn Plc (TIDM: NMCN) is a leading engineering and construction company in the UK. Its talented 1,700-strong team offers multi-sector engineering and construction skills, technical innovation, design, and specialist fabrication.

The Company delivers major built environment and water industry projects across the UK - from buildings and highways to large-scale water networks and treatment plants. With its history dating back to 1946, nmcn now has 12 UK offices and three off-site manufacturing facilities.

LEI Number: 213800ANYQVA5OS51A68

www.nmcn.com

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

TSTFLFFVFLIVFIL

(END) Dow Jones Newswires

February 23, 2021 08:23 ET (13:23 GMT)

1 Year Nmcn Chart

1 Year Nmcn Chart

1 Month Nmcn Chart

1 Month Nmcn Chart
ADVFN Advertorial
Your Recent History
LSE
NMCN
Nmcn
Register now to watch these stocks streaming on the ADVFN Monitor.

Monitor lets you view up to 110 of your favourite stocks at once and is completely free to use.

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V:gb D:20210423 11:42:39