REG - Nexus Infrastructure - AGM Statement

Nexus InfrastructureAnnouncement

30/03/2023 07:00

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RNS Number : 6926U  Nexus Infrastructure PLC  30 March 2023

30th March 2023

Nexus Infrastructure plc

("Nexus" or the "Company" or the "Group")

 

AGM Statement

At the Annual General Meeting of Nexus Infrastructure plc (AIM:NEXS), a
market-leading provider of civil engineering and infrastructure services to
the UK housebuilding sector, convened for 9.00 am today, Richard Kilner, the
Chairman will state:

"In February, we completed the strategic disposal of two former Group
businesses, crystallising value for shareholders. We have ensured that our
Group has adequate working capital and is well-capitalised for the future.

Tamdown, our operating business, continues to be in a resilient position, with
excellent customer retention and repeat business due to its reputation for
quality delivery.

The housing market continues to be in a long-term position of undersupply,
with housebuilders and housing associations striving to accelerate delivery
and ensure quality.

As we enter the traditionally busy spring selling season for housebuilders,
their performance will be key to underpinning FY23 and FY24 performance for
Tamdown.

Tamdown's trading is in line with the Board's expectations, and the business
is well-placed to retain and attract customers while making progress towards
its previously stated medium-term financial and strategic objectives".

Enquiries:

 

Nexus Infrastructure
plc
Tel: 01376 559 550

Charles Sweeney, Chief Executive Officer

Dawn Hillman, Chief Financial Officer

 

Numis Securities
Limited
Tel: 0207 260 1000

(Nominated Adviser & Broker)

Oliver Hardy (Nomad)

Heraclis Economides

Hannah Boros

 

Financial Public Relations

Camarco
                                Tel: 0203 757 4992/4981

Ginny Pulbrook

Rosie
Driscoll
 

 

Notes to Editors:

Nexus is delivering sustainable infrastructure through its wholly owned
subsidiary Tamdown, which provides a range of civil engineering and
infrastructure services to the UK housebuilding sector.

Services include earthworks, highways, substructures and basements, and
installing sustainable drainage systems.

The business has a well-established market position, having been in operation
for over 40 years and its operations are focused on the South East of England
and London.

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