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Nexus Infrastructure order book up 17%; profits in line

By BFN News | 07:49 AM | Wednesday 23 October, 2019


Nexus Infrastructure said its annual order book had grown by 17%, while stating that it expected its full-year profit to meet market expectations. The company said its divisional revenues for the year through September had all risen, with Tamden achieving high single-digit percentage revenue growth. TriConnex, meanwhile, was expected to deliver 'strong' revenue growth following an increase in projects secured, while eSmart Networks continued to 'successfully scale-up' At year end, Nexus Infrastructure said its order book was up 17% on-year at £338.9m, providing it with good visibility of earnings for the year ahead. 'I am pleased to report that the group is trading in line with expectations which we revised earlier this year,' chief executive Mike Morris said. 'The underlying demand in the UK housing market remains strong and Nexus is well-positioned within the structurally under supplied and government-backed housing market.' 'I am particularly encouraged by the progress made by TriConnex this year and the potential within eSmart Networks.' 'The continued growth in our order book provides us with strong visibility of future earnings and gives us confidence in the future.' Story provided by StockMarketWire.com

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