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Nexus Infrastructure expects first-half revenue to fall 24%
StockMarketWire.com
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Infrastructure services provider Nexus Infrastructure said it expected its first-half revenue to fall 24% due to a weak performance from its Tamdown civil engineering business.
Revenue for the six months through March was seen falling to £63.9 million, down from £84.2 million year-on-year.
Nexus said the fall was in line with its base case, the stronger of two scenarios set out at the time of a placing in June.
Its order book stood at £301.6 million on 31 Marc, £2.1 million ahead of the prior year position and an increase of 6.9% since 30 September.
'TriConnex and eSmart Networks trading has been particularly pleasing whilst Tamdown will rebuild over the medium term,' chief executive Mike Morris said.
'We look forward to seeing strong momentum in the order book in the second half of the year, adding new blue-chip customers across the essential services offered by our three businesses.'
At 8:51am: (LON:NEXS) Nexus Infrastructure Plc share price was 0p at 122.5p
Story provided by StockMarketWire.com
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