Nexus Infrastructure PLC (LON: NEXS) have given investors a confident outlook and that annual profits will be in line with market forecasts.
Nexus provide infrastructure services in the housebuilding and commercial sectors, however, said it remains cautious over the ongoing political backdrop.
Nexus is not the first industry firm to express their concern amidst Brexit anxiety. Along with Nexus, many British firms have suffered from low consumer confidence in a period of slow business.
The AIM listed engineering services provider said divisional revenue in the year ending in September was productive.
In this time period, divisional revenue increased year-on-year with Tamdown (Nexus’ civil engineering, infrastructure and concrete frame services arm Tamdown, which counts the bulk of the UK’s biggest housebuilders as customers) achieving high single-digit percentage revenue growth.
TriConnex, part of Nexus is expected to deliver strong revenue growth following an increase in the projects secured and acceleration of other projects in the period. eSmart Networks also continues to successfully scale-up, Nexus noted.
The Essex based firm said that revenues ended the year at £338.9 million, a 17% year on year increase.
This provides the company with “good visibility” of earnings for the year ahead.
Mike Morris, chief executive said “I am pleased to report that the group is trading in line with expectations. “The continued growth in our order book provides us with strong visibility of future earnings and gives us confidence in the future,”
Low risk investor will be particularly keen on Nexas Infrastructure as Nexus closed their financial books with net cash holdings of £22.6 million, beating the forecast by Numis Securities by £10 million.
The fact that in their most recent trading statement, Nexas have given investors a strong outlook is a positive sign. Shareholders can be optimistic for the future, with good performance coming in subsidiary companies as well.
In the energy sector, Hurricane Energy (LON: HUR) have exceeded expectations, TomCo Energy Plc (LON: TOM) have reported a H1 loss and Rose Petroleum PLC (LON: ROSE) shares have spiked on loss announcement.
Currently, shares of Nexus Infrastructure PLC are trading at 136.5p per share, seeing a 2.63% increase during Wednesday trading.