23rd Oct 2019 08:50
(Alliance News) - Engineering services company Nexus Infrastructure PLC on Wednesday said it expects annual profit to be in line with market forecasts.
The AIM-listed firm said divisional revenue in the year to the end of September have increased year-on-year, with Tamdown achieving high single-digit percentage revenue growth.
Meanwhile, TriConnex is expected to deliver "strong" revenue growth following an overall increase in the number of projects secured and the acceleration of other projects in the period.
eSmart Networks also continues to successfully scale-up, Nexus noted.
Braintree, Essex-headquartered Nexus said the order book ended the year at GBP338.9 million, a 17% year-on-year increase, which provides the company with "good visibility" of earnings for the year ahead.
"I am pleased to report that the group is trading in line with expectations," said Mike Morris, chief executive.
"The continued growth in our order book provides us with strong visibility of future earnings and gives us confidence in the future," Morris added.
Nexus shares were trading 6.0% higher in London on Wednesday morning at 141.00 pence each. The company will report annual results on December 10.
By Evelina Grecenko; [email protected]
Copyright 2019 Alliance News Limited. All Rights Reserved.
Related Shares:
Nexus Infrastr.