Trading Update and Notice of Results

Nexus Infrastructure PLC

26 October 2022

 

Nexus Infrastructure plc

("Nexus" or the "Group")

 

Trading Update and Notice of Results

 

 

Nexus Infrastructure plc, a leading enabler of energy transition by delivering sustainable infrastructure, announces a trading update ahead of its results for the financial year ended 30 September 2022, which will be announced on 9 December 2022.

 

Nexus expects to deliver Group revenues of £173m for the year ended 30 September 2022 (2021: £138m). Revenue growth has been achieved in all divisions, with TriConnex improving by 10%, eSmart Networks by 86% and Tamdown by 26%. Group operating profit is expected to be in the range stated in the trading update of 9 August 2022 of £3.8m to £4.2m. The Group's order book is up 10%, with work winning continuing across all three divisions and currently standing at £316m (2021: £286m). The Group's net cash (pre-IFRS 16) at period end was £24.2m (2021: £18.1m).

 

Mike Morris, Chief Executive of Nexus, commented:

"I am pleased with the progress made in the year. TriConnex continues to perform, eSmart Networks is delivering strong revenue growth and Tamdown continues to optimise its service offering. Nexus has a strong balance sheet plus a growing order book, with the Group continuing to see high levels of demand for its services from customers that value its expertise." 

 

 

Enquiries:

Nexus Infrastructure plc Michael Morris, Chief Executive Officer Alan Martin, Chief Financial Officer	Tel: 01376 559550
Numis Securities Limited (Nominated Adviser & Broker) Oliver Hardy (Nomad)   Heraclis Economides  Ben Stoop	Tel: 0207 260 1200
Financial Public Relations Camarco Ginny Pulbrook Rosie Driscoll	Tel: 0203 757 4992

 

About Nexus

Nexus is enabling the energy transition by delivering sustainable infrastructure. The Group's capabilities are:

Multi-Utilities  - TriConnex, our multi-utilities business, designs, installs and connects energy, water, fibre networks and electric vehicle charging infrastructure on new residential developments. The business offers end‑to‑end solutions with the goal of being recognised as the UK's leading independent provider of utility connections to new developments.

Energy  Transition - eSmart Networks, our energy transition business, provides public electric vehicle charging, industrial electrification and renewable energy connections. The business was created to respond to the UK's need for charging infrastructure as the transition to electric vehicles gathers pace and has since broadened its services to provide grid connection solutions and renewable energy infrastructure.

Civil  Engineering - Tamdown, our civil engineering business, provides a range of civil engineering and infrastructure services to the UK housebuilding and commercial sectors. Services include earthworks, highways, substructures and basements and installing sustainable drainage systems. It has an established market-leading position having been in operation for over 40 years.