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NMCN (previously North Midland Construction) - is a 20 bagger possible? (NMCN)     

CC - 10 Dec 2018 13:05 - 2 of 6

My entry at an average of 115

skinny - 10 Dec 2018 13:10 - 3 of 6

CC :-

1) You should have told us when that was the price! :-)

2) The end date on your first chart needs amending.

CC - 10 Dec 2018 13:21 - 4 of 6

I did Skinny (well at 140p) although understandably the success of the trade wasn't so clear then. I think it has lots of room to go yet!

You can help me light the fuel under the CTO rocket if you'd prefer ;-)



CC Send an email to CC View CC's profile - 01 Apr 2016 11:47 - 10 of 24 edit this post
Finally...

I have a stack of these and holding.

£4m underlying profit does not equal a market cap of £14m.

One legacy contract to sort which is provided for (but who knows at what value). No pension issues.

Cash in bank of £6m too although I suspect their cash if far tighter than headline figures and directors wish to improve balance sheet before dividends

CC - 10 Dec 2018 13:25 - 5 of 6

NMCN refuses to work for Tier 1 contractors on HS2


HS2: Contractor rejects tier two role on phase one

The boss of a major contractor has rejected working for HS2’s phase one joint ventures because it would mean serving in a tier two role.
In an interview with CN, John Homer said the newly rebranded NMCN (formerly known as North Midland Construction) had been approached by HS2’s phase one contractors to work on the £55.7bn project.
However, while Mr Homer said the group would not rule out working on HS2, it did not want to serve as a subcontractor for a tier one.
“We don’t want to work as a tier two contractor, which would mean that we would get paid by a tier one contractor,” he said.
Mr Homer also told CN that the tier one business model was being “squeezed really hard” and “does not appear to work”.

Citing Carillion’s collapse earlier this year, the chief executive said: “Consciously or naively, they [Carillion] took on risks that proved terminal.
“It killed them. They took on risks that they didn’t understand and couldn’t manage. The model has to be rethought in terms of what it is you need to do.”
Mr Homer said NMCN wanted to change the tier one business model by offering a “full service offering” through design, build and offsite manufacturing services.

CC - 10 Jan 2019 10:54 - 6 of 6

Starting to take off. Not sure why. Might be trading update in about two weeks.
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