FY25 Trading Update
Nexus Infrastructure PLC reported an expected 16% increase in revenue to £65.9m for the year ended September 30, 2025, compared to £56.7m in the previous year. Tamdown's order book saw a significant 62% increase, reaching £83.4m, up from £51.5m in FY24. The acquisition of Coleman has positively impacted Group margins and is well-positioned for AMP8. The Group maintained a strong balance sheet with a cash balance of £10.9m, after a £4.1m consideration for Coleman's acquisition, compared to £12.8m in FY24. The Group expects to report a reduced loss before tax due to improved operational performance and cost management.
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Nexus (AIM: NEXS), a leading provider of essential infrastructure solutions, provides an update on trading for the year ended 30 September 2025 ("FY25").
| · | The Group expects to report an approximate 16% increase in revenue to £65.9m for the year ended 30 September 2025, up from £56.7m in FY24 |
| · | Tamdown's order book at year-end was significantly up by 62% to £83.4m (FY24: £51.5m), in spite of the current challenges in the housebuilding sector |
| · | Coleman has integrated seamlessly into the Group, with operations, predominantly within the water and rail sectors, contributing positively to Group margins. The business is well positioned for the start of AMP8 and the anticipated growth in activity is expected to follow throughout FY26 |
| · | During FY25, the Group continued to maintain its focus on improving operational performance and managing its cost base, and as a result expects to report a reduced loss before tax |
| · | Strong balance sheet with a cash balance of £10.9m (FY24: £12.8m), which is after a total consideration of £4.1m (including the settlement of inter company loans) paid for the acquisition of Coleman. The Group has also achieved a reduction in trade debtors and retentions |
Outlook
The housebuilding sector has seen a modest increase in activity over the last 12 months - but a sizeable gap is still to be bridged before the sector will achieve the levels of output required. The UK Government remains committed to its ambitious targets for housebuilding and is continuing to bring forward initiatives to encourage growth. The timing and the pace of the recovery are less certain, but the fundamental drivers provide the foundations for confidence in the sector prospects for the years ahead.
In order to meet the challenges of climate change (floods and droughts), environmental protection (sewage spillages), population growth and technology changes (increases in volume demands), and the need to reduce leakages (aging infrastructure) the water companies will expend in excess of £104bn* during the AMP8 programme of works, running through to 2030. This is a significant increase on the previous AMP7 programme. Coleman has a wealth of experience in the water sector and is very well placed to benefit from the coming release of AMP8 works during FY26 and beyond.
Charles Sweeney, Chief Executive of Nexus, commented: "At the end of FY23, we set out our three strategic objectives to stabilise operations and to plot a new path for the Group, re-introducing growth and begin the journey back to profitability. Since then, we have experienced some challenging market conditions, but we have grown, our margins have continued to improve, and our order book has significantly increased over that 24-month period from £46.0m to £51.5m and now to £83.4m. There is still some way to go, but we remain on track and look forward to the opportunities ahead."
*As a result of the recent CMA review, the £104bn announced by Ofwat in Dec 2024 will be marginally increased.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.