Nexus Infrastructure PLC Trading Update and Notice of Results (7761Q)
23 Octubre 2019 - 1:00AM
UK Regulatory
TIDMNEXS
RNS Number : 7761Q
Nexus Infrastructure PLC
23 October 2019
Wednesday 23 October 2019
Nexus Infrastructure plc
("Nexus" or the "Company")
Trading Update and Notice of Results
Profits for the full year expected to be in line with market
expectations
Nexus Infrastructure plc (AIM:NEXS), a leading provider of
essential infrastructure services to the UK housebuilding and
commercial sectors, announces a trading update ahead of its annual
results for the financial year ended 30 September 2019, which will
be announced on 10 December 2019.
The Board expects the Group's profits for the full year ended 30
September 2019 to be in line with market expectations.
The Group's divisional revenues have increased year-on-year:
Tamdown will achieve high single-digit percentage revenue growth.
TriConnex will deliver strong revenue growth following an overall
increase in the number of projects secured and the acceleration of
certain projects in the period; and eSmart Networks continues to
successfully scale-up.
The Board is encouraged by the level of growth in each of the
Group's order books. Since last year end Tamdown's order book is up
by 6% to GBP151.6m, TriConnex up by 26% to GBP184.8m and eSmart
Networks up GBP1.7m to GBP2.5m. The Group order book ended the year
at GBP338.9m, a 17% year-on-year increase which provides Nexus with
good visibility of earnings for the year ahead.
The Group is also pleased to report a continued high cash and
cash equivalent balance of GBP27.4m (2018: GBP26.4m), resulting in
net cash of GBP22.6m (2018: GBP20.0m).
The Board believes that the Group is in a strong position to
deliver consistent organic growth, aided by the structural
undersupply in the UK housebuilding market and Government stimulus
for the sector but like many industry suppliers, we continue to
experience caution as a result of the continuing political
backdrop.
Commenting on the Group's performance, Mike Morris, Chief
Executive Officer, said:
"I am pleased to report that the Group is trading in line with
expectations which we revised earlier this year. The underlying
demand in the UK housing market remains strong and Nexus is
well-positioned within the structurally under supplied and
Government-backed housing market. I am particularly encouraged by
the progress made by TriConnex this year and the potential within
eSmart Networks. The continued growth in our order book provides us
with strong visibility of future earnings and gives us confidence
in the future."
Enquiries:
Nexus Infrastructure plc Tel: 01376 320856
Michael Morris, Chief Executive
Officer
Alan Martin, Chief Financial
Officer
Numis Securities Limited Tel: 0207 260 1200
(Nominated Adviser & Broker)
Oliver Hardy (Nomad)
Heraclis Economides
Ben Stoop
Financial Public Relations Tel: 0203 757 4992
Camarco
Ginny Pulbrook
Tom Huddart
Notes to Editors:
Nexus is a leading provider of essential infrastructure services
to the UK housebuilding and commercial sectors. The Group
comprises: Tamdown, a provider of specialised civil engineering,
infrastructure and concrete frame services; TriConnex which
designs, installs and connects utility networks to properties on
new residential and commercial developments; and eSmart Networks
which focuses on electric vehicle charging and smart grid
infrastructure.
Tamdown has a well-established market position having been in
operation for over 40 years and currently counts amongst its
customers the majority of the top ten largest UK housebuilders.
TriConnex was established in 2011 to take advantage of deregulation
in the utilities market with the goal of being recognised as the
UK's leading independent provider of utility connections to new
developments. eSmart Networks was set up in 2018 to respond to the
UK's need for charging infrastructure as the transition from
internal combustion engine vehicles to electric vehicles gathers
pace.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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