22nd Oct 2021 15:19
Nexus Infrastructure PLC - Braintree, Essex-based gas, electricity, water, fibre networks and electrical vehicle charging infrastructure - For the year ended September 30, company expects revenue to reach GBP138.0 million, up 9.8% from GBP125.7 million the year before, with an order book of GBP286.4 million, up from GBP282.0 million.
As a result, operating profit for the year is set to be in line with management expectations.
Nexus notes a stronger performance from its multi-utility business TriConnex, and smart energy unit eSmart Networks, as civil engineering business Tamdown revenue declined due to lower levels of contract awards.
"2021 has been an important year for Nexus. With a return to profitability and a strong balance sheet, we were pleased to reinstate the payment of dividends in 2021. The business has continued to expand, with the completion of our new head office Nexus Park and the opening of an office in Belfast," says Chief Executive Officer Mike Morris.
"Looking forward, we expect profits to grow in the year ahead and the business is in a strong position to meet the anticipated increased level of activity driven by a fundamental undersupply of housing and infrastructure in the UK. This is coupled with the growing opportunities to support the UK's energy transition," Morris added.
Nexus Infrastructure will publish its annual results on December 10.
Current stock price: 241.20 pence
Year-to-date change: up 46%
By Dayo Laniyan; [email protected]
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