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Nexus Infrastructure says Tandem trading in line with downside scenario
StockMarketWire.com
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Infrastructure services provider Nexus Infrastructure said the Covid-19 pandemic was continuing to hurt its Tamdown unit, with trading in line with its downside scenario for the business.
On a positive note, however, Nexus said trading conditions within its TriConnex and eSmart busineses continued to be positive, with both performing ahead of its base case scenario.
'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,' chairman Geoff French said in AGM speech notes.
'With a strong balance sheet and order book of £279 million, Nexus remains on-track to implement its recovery and growth strategy with a return to pre-Covid levels of activity in the 2022 financial year,' French said.
Story provided by StockMarketWire.com
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