REG - Nexus Infrastructure - Half Year Trading Update and Notice of Results

Nexus InfrastructureAnnouncement

19/04/2024 07:00

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RNS Number : 2315L  Nexus Infrastructure PLC  19 April 2024

 

19 April 2024

 

Nexus Infrastructure plc

("Nexus" or the "Group")

 

Half Year Trading Update and Notice of Results

 

Nexus (AIM: NEXS), a leading provider of essential infrastructure
solutions, announces an update on trading for the six months ended 31 March
2024 (HY24).

 

The Group expects to report revenue of £26m, in line with the Board's
expectations and is pleased to report a further improvement in the order book
to £72m from £57m at 31 January 2024 and £46m at the end of FY23. This
reflects the growing demand for the Group's services and the strength of its
offering, as well as the value Tamdown delivers to its customer base. Whilst
the ongoing challenging market conditions persist, it is encouraging to have
secured new project phases of significant multi-phase contracts with several
longstanding customers. There are early signs of some improvements in the
market.

 

The Group retains a strong balance sheet with cash and cash equivalents of
£9.3million albeit this is marginally lower than the Board's expectations.

 

Charles Sweeney, Chief Executive of Nexus, commented: "The Group has made good
progress on our strategy in the first half and whilst customers remain
cautious on awarding new contracts, we have entered the second half with an
orderbook at £72m which has been growing steadily over the last six months.
We continue to have good visibility of new contracts with our longstanding
customers on significant multi-phase developments. Although we are encouraged
by the initial improvements in the market, we will maintain our focus on
operating discipline and the management of costs."

 

Notice of Half Year Results

The Group will announce its results for the six months ended 31 March 2024 on
Thursday, 16 May 2024.

 

Enquiries

 

 Nexus Infrastructure plc                  Via Alma
 Charles Sweeney, Chief Executive Officer
 Dawn Hillman, Chief Financial Officer

 Deutsche Numis (London)                   Tel: 0207 260 1200
 (Nominated Adviser & Broker)
 Oliver Hardy (Nomad)

 Alma Strategic Communications             Tel: 0203 405 0205

 (Financial Public Relations)
 Justine James
 Hannah Campbell

 

Notes to Editors

Nexus is a market-leading provider of civil engineering infrastructure
services to the UK housebuilding sector through its operational business,
Tamdown.

 

Tamdown provides a range of civil engineering and infrastructure services to
the UK housebuilding sectors, with operations focused on the South-East of
England and London. It has an established market-leading position, having been
in operation for over 45 years.

 

www.nexus-infrastructure.com
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