Nexus reveals 'strong' half-year results

Today (May 30), Nexus - a provider of essential infrastructure services to the UK housebuilding and commercial sectors - has announced its interim results for the six months ended March 31, 2018.

When highlighting the results, what mainly stood out was the group revenue up 3.8 per cent to £62.9m; along with operating profit up 14.6 per cent to £3.5m; and profit before tax up 15.3 per cent to £3.4m.

The gross margin for the period at 16.3 per cent (H1 2017: 15.9 per cent) is in line with margins recorded in the preceding financial years.

Nexus has also launched a solution to design, install and connect rapid electric vehicle charging points for customers across the UK - like charge point network operators, local authorities and vehicle OEMs.

The firm has secured £0.5m worth of contracts for the installation of such charging points in both the South East and the Midlands.

Mike Morris, chief executive of Nexus, concluded: “We are reporting revenues and profits ahead of H1 last year and a current order book of £234.1m, which positions the group well for future growth.

“Our recent trading statement identified some industry-driven timing issues from within the TriConnex business, which we are addressing.

“The underlying demand factors in UK housebuilding are still strong and Nexus commands an established market position, from which we will continue to pursue our growth strategy. Against this background, the board is optimistic on the outlook for the business.”

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