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EARNINGS UPDATES: Nexus Infrastructure swings to annual profit

18th May 2023 13:27

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:

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Nexus Infrastructure PLC - Braintree, England-based provider of civil engineering infrastructure services to the UK housebuilding sector - Says Tamdown, its operational business, has continued to see improvement in its operational and commercial performance in the six months ended March 31. Company swings to a pretax profit of GBP72.3 million in the half from a loss of GBP378,000 the year prior. Revenue climbs 9.3% to GBP51.0 million from GBP46.7 million year-on-year. Declares an interim dividend of 1.0 pence per share, unchanged from the year prior. Notes that in recent weeks it has seen early indications of improvements in market conditions, with a number of housebuilders commenting on an increase in enquiries and sales conversions. Says that while this is encouraging, it is likely to take "some months" for this to be fully reflect within Tamdown.

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Great Western Mining Corp PLC - Nevada, US-focused gold, silver and copper project developer - Posts a widened annual loss in a year of "intense activity" in which it accelerated its exploration programme on three of its prospects. Reports a loss of EUR792,263 in 2022, widening from a loss of EUR535,960 the year prior. Total assets at year-end fall to EUR9.0 million from EUR9.3 million year-on-year. Currently has no revenue from its operations. Looking ahead, outlines three main aims for 2023. First, to get the process mill online in 2023 and producing the company's first ever revenue from the sale of gold and silver concentrates. Second, to develop a commercial gold and silver play from one or more of its prospects. Third, to see if there is a significant copper prospect on its claims beyond its current indicated and inferred resource.

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Ecofin Global Utilities & Infrastructure Trust PLC - Chelmsford, England-based investment trust focused on utility and infrastructure companies - Reports a net asset value per share of 212.07 pence at March 31, up from 208.14p at September 30. Total NAV per share return in the six months ended March 31 is 3.7%. In contrast, the MSCI World Index returns 6.8% over the same six month period. "The outlook for earnings and growth held up well while there was no further bad news about windfall tax and government policies. The benefits of a balanced portfolio showed through: good performance in continental Europe outweighed dual headwinds of share price weakness in North America and the strengthening of the pound against the dollar," the company says.

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By Heather Rydings, Alliance News senior economics reporter

Comments and questions to [email protected]

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