Pre-close Trading update and Board change

Nexus Infrastructure plc (AIM: NEXS), a leading provider of essential infrastructure solutions, announces a pre-close update on trading for the year ended 30 September 2026 ("FY26") and change to the Board.

Trading update

As a result of the timing of project activity across both Tamdown and Coleman, the Group now expects to report revenue of approximately £70.0m (FY25: £65.9m) resulting in a loss before tax for FY26 of approximately £1.0m (FY25: loss £1.6m)*. This primarily reflects the continued challenging market backdrop, including the timing of customer led project activity and slower than anticipated conversion of secured work during H2.

The Group's cash position at 31 August 2026 was c. £8.7m (September 2025: £10.9m).

The Group's contracted order book remained strong as at 31 August 2026 at £75.4m, with a further £15.2m of work secured in September to date supporting future activity levels.

During the year, the Group has remained focused on operational efficiency, cost discipline and cash management.

While market conditions remain challenging, the Board’s immediate focus is on improving operational execution, managing the cost base and maintaining a disciplined approach to cash and working capital.

Board change

Following a review of the Group’s operating structure and cost base, the Board has concluded that the responsibilities undertaken by the Chief Executive Officer (“CEO”) can effectively be absorbed within the existing senior leadership team ("SLT"). As a result, the CEO position has been removed and Charles Sweeney is no longer a Group Director with immediate effect. He will leave the business on 30 September 2026 and the CEO role responsibilities will be handed over in the interim period to the Company’s CFO - Dawn Hillman, the Interim Chair – Clare Lacey, the Board and other members of the SLT.

The Company has commenced a process to identify and appoint a further Independent Non-Executive Director and further announcements will be made as appropriate.

Clare Lacey, Interim Chair of Nexus, commented: “Whilst Nexus delivered revenue growth of c.£4m and continued to reduce its loss before tax in FY26, the year has nevertheless been adversely affected by timing of activity across both Tamdown and Coleman impacting the Group's performance.

“We continue to see opportunities across both Tamdown and Coleman and remain encouraged by customer demand, however, our immediate focus is on improving operational execution and cost efficiency. We retain strong customer relationships, a substantial order book and a good cash balance, which we believe positions the Group well to benefit as market conditions improve. We have a strong senior leadership team in place and are confident in their ability to deliver growth.

“On behalf of the Board, I would like to thank Charles for his contribution during his tenure with Nexus, including overseeing the acquisition and integration of Coleman. We wish him all the best for the future.”

*The Company understands FY26 market consensus to be profit before tax of £0.1m and revenue of £79.0m.