11th Dec 2020 17:44
Nexus Infrastructure PLC - infrastructure services, utilities connections and smart energy infrastructure - Revenue for financial year to September 30 falls to GBP125.7 million from GBP155.1 million the year before, and company swings to pretax loss of GBP2.8 million from profit of GBP5.7 million.
Chief Executive Mike Morris says: "2020 has really been a year of two halves: the first half performance was positive and ahead of our expectations, whilst the second half reflected the impact of Covid-19, to which we responded rapidly to secure the safety of our employees and protect the business."
"During that period, we saw lower levels of activity and demand from our customer base, but I am delighted to say that since the year end, the whole business has seen a return to growth in new work secured and the Group is progressing well," he says.
Adds that company is "well-placed" to return to pre-Covid-19 levels of activity by 2022 financial year.
Current stock price: 145.00 pence
Year-to-date change: down 28%
By Lucy Heming;Â [email protected]
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