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Nexus Infrastructure returns to profit as order book grows; reinstates dividend
StockMarketWire.com
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Infrastructure services group Nexus Infrastructure has reinstated its dividend having reported an operating profit, following a loss in the second half of 2002 and a 'strong' group order book of £301.6 million, ahead year on year.
Group revenue of £63.7 million in the six months to 31 March 2021, is up from £41.5 million in the previous six-month period, while it recovered from a £4.5 million loss in the second half of 2020 to book group operating profit of £1.5 million.
The company announced it has reinstated dividends, with an interim dividend of 0.6p per share.
Nexus Infrastructure reported that its utilities business TriConnex continued to grow by attracting new customers, while its smart energy business eSmart Networks has had a 'successful period' significantly growing its market position and order book.
During the period, civil engineering business Tamdown secured new business that will commence in H2 2021.
Chief executive Mike Morris said: 'The fundamental growth drivers are positive for Nexus, underpinned by electric vehicle charging and smart grid solutions, which are at the heart of the energy transition.'
He added: 'Trading in TriConnex and eSmart Networks is very strong with continued growth and innovation in both divisions. In Tamdown improvement is ongoing, and we expect the division to rebuild to proven levels of growth over the medium term.'
At 9:46am: (LON:NEXS) Nexus Infrastructure Plc share price was 0p at 122.5p
Story provided by StockMarketWire.com
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