Business
Interim Results
Interim Results.
About this update from Nexus Infrastructure Plc
[{"type":"text","content":"\n\n15 May 2025\n \nNexus Infrastructure plc\n(\"Nexus\" or the \"Group\")\n Interim results for the six months ended 31 March 2025\nSolid progress in its strategic objectives delivered improved results\n \nNexus Infrastructure plc (AIM:NEXS), a leading provider of essential infrastructure solutions, announces its interim results for the six months ended 31 March 2025 (HY25).\n \nCharles Sweeney, Chief Executive of Nexus, commented: \"It has been an encouraging first half for Nexus Infrastructure, during which we have delivered notable progress against our three strategic objectives.\n \n\"Tamdown has experienced growth in both revenue and order book, we delivered our first step in diversification through the acquisition of Coleman Construction & Utilities, and our focus on financial delivery has once again resulted in an improvement in Tamdown's gross margin - despite the challenging market backdrop across the housebuilding sector. New work generation in H2 has started well, with additional new contracts secured post the period end, further increasing our order book.\n \n\"The Group continues to be well placed to benefit from the recovery of the housebuilding sector. In addition, we can now look forward to the opportunities which will arise from the significant increases in water sector budgeted expenditure included in the AMP8 programme of works, beginning later this year.\"\n \nFinancial Summary\n\n\n\n\n· \n\n\nGroup revenue increased to £30.6m (HY24: £25.8m), in line with management expectations.\n\n\n\n\n· \n\n\nRevenue from Tamdown (housebuilding) increased to £27.8m (HY24: £25.8m), despite continuing headwinds in the sector and Coleman revenue (water) delivered £2.8m in the five months since acquisition.\n\n\n\n\n· \n\n\nTamdown's order book grew to £80.8m (HY24: £72m). Further work to the value of £16m was secured in April.\n\n\n\n\n· \n\n\nGroup operating loss of £1.1m (HY24: £1.3m loss) before exceptional items of £0.5m (HY24: £0)\n\n\n\n\n· \n\n\nStrong balance sheet with cash and cash equivalents of £9.6m (HY24 £9.3m).\n\n\n\n\n· \n\n\nNet assets £28.1m (HY24: 31.5m) reflecting a reduction in trade rec...