Turnover for the 18-month period to 30th October 2020 fell to £291.3m resulting in a post-tax loss of £2m after absorbing the impact of Covid-19.

Chief Executive Alan Hope is confident the group will return to pre-pandemic annual revenues of around £250m and get back in the black.

He said: “As we all know, it has been an extraordinary period of time; one in which the construction sector has been impacted significantly but has also shown its value to the country and the economy through the success of critical infrastructure projects and the Government’s focus on construction helping lead the recovery.

“What has been remarkable during this unprecedented period of uncertainty has been the phenomenal performance and achievements of the exceptional people at Team Midas.

“It is in testing periods such as these that leaders emerge and we had many people raise their heads up and lead their teams and colleagues through the most challenging of situations. Our teams have emerged stronger for the experience and we have in front of us a strong pipeline of exciting projects working with some world-leading customers.

“Our order book leaves us well positioned to capitalise on the renewed optimism in the economy, to continue to support our customers and to create exciting opportunities for our talented people.”