Tuesday 16 February 2021
Nexus Infrastructure plc
("Nexus" or the "Group")
At the Annual General meeting of Nexus Infrastructure plc (AIM:NEXS), a leading provider of essential infrastructure services, utilities connections and smart energy infrastructure, convened for 9.00 am today, Geoff French, the Chairman will state:
"Whilst the pandemic continues to cause general economic uncertainty, the fundamental market growth drivers for our business remain positive and are underpinned by Government stimulus for housing, renewable energy and electric vehicle charging.
I am pleased to report that trading conditions within TriConnex and eSmart continue to be positive with both businesses carrying significant momentum. TriConnex and eSmart have performed ahead of our base case scenario as set out at the time of the Group's placing in June last year, with significant growth in new business in-line with our growth strategy for these two divisions.
The pandemic and resulting market uncertainty has however continued to provide challenges for Tamdown. Despite on-site activity and new business wins picking up since the year-end, trading is more in-line with the downside scenario as set out at the time of last year's placing. We are confident of a recovery in Tamdown's revenues and margins as industry activity returns to more normalised levels.
With a strong balance sheet and order book of £279m, Nexus remains on-track to implement its recovery and growth strategy with a return to pre-Covid levels of activity in FY22."
Nexus Infrastructure plc
Michael Morris, Chief Executive Officer
Alan Martin, Chief Financial Officer
Tel: 01376 320856
Numis Securities Limited
(Nominated Adviser & Broker)
Oliver Hardy (Nomad)
Tel: 0207 260 1200
Financial Public Relations
Tel: 0203 757 4992
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 high-rise construction services; TriConnex which designs, installs and connects utility networks to properties on new residential developments; and eSmart Networks which focuses on electric vehicle charging and smart energy 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 2017 to respond to the UK's need for charging infrastructure as the transition to electric vehicles gathers pace alongside the need for smart energy solutions.