The contractor confirmed today that legacy contracts had cost it more than expected at £3.1m.
The settlements leave North Midland facing just “one problematical legacy contract to conclude.”
In a trading update for the year to 31 December 2015, North Midland said: “The resolution of certain previously referred to legacy contracts across the Group has now been concluded and the settlement figures expected have not been achieved, resulting in additional total losses of £3.1 million.
“Despite these negative settlements, due to strong underlying trading, management still expects an unadjusted profit for the full year, albeit significantly below previous management expectations.
“The order book for completion this year currently stands at £195 million and the Board is confident about the outlook for the year.”