By Dave Rogers2020-12-23T10:13:00+00:00 Firm to now sink £16.5m into red this year Civils specialist NMCN has told investors that its losses from a series of problem water contracts will now be £1.5m more than expected. In October, the firm, previously known as North Midland Construction, said a review of its major contracts had uncovered several issues which it said will see it rack up a pre-tax loss of between £13m and £15m for 2020. NMCN will nosedive £16.5m into the red when it reports its 2020 results next year But in a trading update this morning, the firm said this figure had now gone out to £16.5m.