logo-loader
RNS
viewNEXUS INFRASTRUCTURE PLC

Trading Update and Notice of Results

/**/ .ag{size:595.3pt 841.9pt;margin:72.0pt 72.0pt 2.0cm 72.0pt;}div.ag{}p.bd{margin-right:0cm;margin-left:0cm;font-size:12.0pt;font-family:"Times New Roman","serif";margin:0cm;margin-bottom:.0001pt}span.be{font-size:11.0pt;font-family:"Calibri","sans-serif";color:black}p.bf{margin-right:0cm;margin-left:0cm;font-size:12.0pt;font-family:"Times New Roman","serif";margin: 0cm; margin-bottom: .0001pt; text-align: center}span.bg{color: black; font-family: "Calibri","sans-serif"; font-size: 11.0pt; font-weight: bold}span.bh{color: black; font-family: "Calibri","sans-serif"; font-size: 11.0pt; font-div: italic; font-weight: bold}p.bi{margin-right:0cm;margin-left:0cm;font-size:12.0pt;font-family:"Times New Roman","serif";margin:0cm;margin-bottom:.0001pt;text-align:justify}span.bj{font-size:11.0pt;font-family:"Calibri","sans-serif"; color:black}span.bb{font-size:11.0pt;font-family:"Calibri","sans-serif";color:black} p.bk{margin-right:0cm;margin-left:0cm;font-size:12.0pt;font-family:"Times New Roman","serif";margin:0cm;margin-bottom:.0001pt;text-align:justify}p.bl{margin-right:0cm;margin-left:0cm;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:justify}span.bm{font-size: 11.0pt;font-family:"Calibri","sans-serif";color:black}p.bn{margin-top:0cm;margin-right:0cm;margin-bottom:8.0pt;margin-left:0cm;line-height:107%;font-size:11.0pt;font-family:"Calibri","sans-serif";margin-bottom:0cm;margin-bottom:.0001pt;line-height: 12.65pt}span.ar{color:black}p.bo{margin-top:0cm;margin-right:0cm;margin-bottom:8.0pt;margin-left:0cm;line-height:107%;font-size:11.0pt;font-family:"Calibri","sans-serif";line-height:12.65pt}table.bp{margin-left:-10.8pt;border-collapse:collapse}td.an{width:187.95pt;padding:0cm 5.4pt 0cm 5.4pt}p.bq{margin-top:0cm;margin-right:0cm;margin-bottom:8.0pt;margin-left:0cm;line-height:107%;font-size:11.0pt;font-family:"Calibri","sans-serif";font-weight: bold; line-height: 12.65pt; margin-bottom: 0cm}span.ao{font-family:"Times New Roman","serif"} td.am{width:201.45pt;padding:0cm 5.4pt 0cm 5.4pt}span.ak{font-size:10.0pt;color:black}p.br{margin-top:0cm;margin-right:0cm;margin-bottom:8.0pt;margin-left:0cm;line-height:107%;font-size:11.0pt;font-family:"Calibri","sans-serif";font-weight: bold; margin-bottom: 0cm}p.bs{margin-top:0cm;margin-right:0cm;margin-bottom:8.0pt;margin-left:0cm;line-height:107%;font-size:11.0pt;font-family:"Calibri","sans-serif";margin-bottom:0cm;margin-bottom:.0001pt}p.bt{margin-top:0cm;margin-right:0cm;margin-bottom:8.0pt;margin-left:0cm;line-height:107%;font-size:11.0pt;font-family:"Calibri","sans-serif";margin-bottom:0cm;margin-bottom:.0001pt;text-align: justify}p.bu{margin-top:0cm;margin-right:0cm;margin-bottom:8.0pt;margin-left:0cm;line-height:107%;font-size:11.0pt;font-family:"Calibri","sans-serif";text-align:justify}p.a,li.a,div.a{margin-top:0cm;margin-right:0cm;margin-bottom:8.0pt;margin-left:0cm;line-height:107%;font-size:11.0pt;font-family:"Calibri","sans-serif";} /**/
RNS Number : 7761Q
Nexus Infrastructure PLC
23 October 2019
 

Wednesday 23 October 2019

 

Nexus Infrastructure plc

("Nexus" or the "Company")

 

Trading Update and Notice of Results

 

Profits for the full year expected to be in line with market expectations

 

Nexus Infrastructure plc (AIM:NEXS), a leading provider of essential infrastructure services to the UK housebuilding and commercial sectors, announces a trading update ahead of its annual results for the financial year ended 30 September 2019, which will be announced on 10 December 2019.

 

The Board expects the Group's profits for the full year ended 30 September 2019 to be in line with market expectations.

 

The Group's divisional revenues have increased year-on-year: Tamdown will achieve high single-digit percentage revenue growth. TriConnex will deliver strong revenue growth following an overall increase in the number of projects secured and the acceleration of certain projects in the period; and eSmart Networks continues to successfully scale-up. 

 

The Board is encouraged by the level of growth in each of the Group's order books. Since last year end Tamdown's order book is up by 6% to £151.6m, TriConnex up by 26% to £184.8m and eSmart Networks up £1.7m to £2.5m. The Group order book ended the year at £338.9m, a 17% year-on-year increase which provides Nexus with good visibility of earnings for the year ahead.

 

The Group is also pleased to report a continued high cash and cash equivalent balance of £27.4m (2018: £26.4m), resulting in net cash of £22.6m (2018: £20.0m).

 

The Board believes that the Group is in a strong position to deliver consistent organic growth, aided by the structural undersupply in the UK housebuilding market and Government stimulus for the sector but like many industry suppliers, we continue to experience caution as a result of the continuing political backdrop.

 

Commenting on the Group's performance, Mike Morris, Chief Executive Officer, said:

"I am pleased to report that the Group is trading in line with expectations which we revised earlier this year. The underlying demand in the UK housing market remains strong and Nexus is well-positioned within the structurally under supplied and Government-backed housing market. I am particularly encouraged by the progress made by TriConnex this year and the potential within eSmart Networks. The continued growth in our order book provides us with strong visibility of future earnings and gives us confidence in the future."

 

Enquiries:

 

Nexus Infrastructure plc

Michael Morris, Chief Executive Officer

Alan Martin, Chief Financial Officer

 

Tel: 01376 320856

Numis Securities Limited

(Nominated Adviser & Broker)

Oliver Hardy (Nomad)                  

Heraclis Economides     

Ben Stoop

 

Tel: 0207 260 1200

Financial Public Relations

Camarco

Ginny Pulbrook

Tom Huddart

                                                                                

Tel: 0203 757 4992

 

Notes to Editors:

 

Nexus is a leading provider of essential infrastructure services to the UK housebuilding and commercial sectors. The Group comprises: Tamdown, a provider of specialised civil engineering, infrastructure and concrete frame services; TriConnex which designs, installs and connects utility networks to properties on new residential and commercial developments; and eSmart Networks which focuses on electric vehicle charging and smart grid infrastructure.

 

Tamdown has a well-established market position having been in operation for over 40 years and currently counts amongst its customers the majority of the top ten largest UK housebuilders. TriConnex was established in 2011 to take advantage of deregulation in the utilities market with the goal of being recognised as the UK's leading independent provider of utility connections to new developments.  eSmart Networks was set up in 2018 to respond to the UK's need for charging infrastructure as the transition from internal combustion engine vehicles to electric vehicles gathers pace.

 

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
END
 
 
TSTBRBDGIGDBGCD

Quick facts: NEXUS INFRASTRUCTURE PLC

Price: 169.5

Market: AIM
Market Cap: £64.61 m
Follow

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE