Half Year Trading Update and Notice of Results

Nexus Infrastructure plc (AIM:NEXS), a leading provider of essential infrastructure solutions, announces an update on trading for the six months ended 31 March 2025 (HY25).

The Group expects to report revenue in line with management expectations of £30.2m for HY25, an increase of 17.1% on HY24. The Group retains a strong balance sheet with cash and cash equivalents of £9.6million, an increase of 3.2% versus HY24.

Over the period, whilst the UK economy has continued to struggle due to a range of domestic and global factors, there has been a slight improvement in the housebuilding sector, though the much-anticipated start to a full recovery is now predicted to be delayed by some months.

Tamdown made progress in HY25, with its quality of service and longstanding, loyal customer base enabling it to win new contracts on several multi-phase projects. This momentum is reflected in the growth of the order book which increased by 11.1% to £80m versus £72m in HY24.

Following the acquisition of Coleman Construction & Utilities (Coleman) in October 2024, integration is progressing well with operational efficiencies already being delivered. Coleman's activities in the water sector have been focused on the completion of a number of high-profile, long-term AMP7 projects (Asset Management Project 7), and on preparation for the start of the AMP8*, which is the next five-year regulatory cycle set by Ofwat to increase efficiencies in the water sector in England and Wales.

The acquisition of Coleman provides diversification of revenue streams, with the opportunities in the water sector from AMP8 and the work being carried out in the rail sector, resulting in the Group having less reliance on the housing sector.

Charles Sweeney, Chief Executive of Nexus, commented: "The Group has made good progress on its strategy in the first half of FY25, with positive momentum notwithstanding the continued headwinds faced by the ongoing macro-economic uncertainties which have delayed the anticipated recovery of the housebuilding sector. As a result of actions taken, Tamdown is now leaner, more agile, and better placed for growth when the recovery begins.

"Coleman joined the Group at the beginning of this financial year, and it has been a pleasure getting to know the team and the business. As AMP7 work comes to a successful conclusion, our attention has turned towards the new AMP8 period starting later in the year, which is expected to bring a significant increase in activities."

Notice of Half Year Results

The Group will announce its results for the six months ended 31 March 2025 on Thursday, 15 May 2025.

*An Asset Management Period (AMP) is a is a five-year regulatory cycle set by Ofwat to increase efficiencies in the water sector in England and Wales. AMP8 is, the eighth cycle of this regulatory framework, which runs until 2030. It sets out the financial and operational expectations for water companies across England and Wales.