Nexus Infrastructure (NEXS)

Sector:

Construction and Building Materials

Index:

FTSE AIM All-Share

80.50p
   
  • Change Today:
    -2.50p
  • 52 Week High: 171.00
  • 52 Week Low: 75.00
  • Currency: UK Pounds
  • Shares Issued: 46.18m
  • Volume: 63,250
  • Market Cap: £37.18m
  • RiskGrade: 174

Nexus Infrastructure shares tumble amidst uncertain political backdrop

By Iain Gilbert

Date: Monday 29 Apr 2019

LONDON (ShareCast) - (Sharecast News) - Essential infrastructure provider Nexus saw revenues move ahead in the first half of its trading year but warned of margin pressures as a result of Brexit concerns.
Revenues at Tamdown, its civil engineering arm, were up 6.1% year-on-year, but the unit faced several delays and changes to customer build programmes, affecting resource planning, increasing mobilisation costs and impacting efficiency.

Nexus warned that the current trading conditions, which it attributed in part to the uncertain political backdrop, would continue over the second half, leading it to forecast that gross margins in the back half of the year would be little changed from the roughly 13% achieved during the first six months, and in turn "materially" reduce its full-year profits.

However, despite the difficult market backdrop, Tamdown continued to win work from its extensive housebuilding client base, with an order book of £145m - up 22.5% year-on-year.

TriConnex performed in line with the board's expectations, with a 40.9% stronger order book of £163m, while eSmart continued to scale up, as reflected in its order book of £3.0m, a 500% year-on-year improvement.

Looking forward, Nexus believes it remains in a "strong position to deliver organic growth on the back of the continuing status of the UK housing market", but like many industry suppliers, warned that it was experiencing a slow-down as a result of Brexit concerns.

Chief executive Mike Morris said: "The underlying demand in the UK housing market remains strong and Nexus is well positioned within this market.

"However, customer delays and the resultant cost pressures experienced by Tamdown in H1 are likely to continue into H2 and although management are addressing these issues, they will have a significant impact on group profitability this year."

As of 0840 BST, Nexus shares had tumbled 29.01% to 151.20p.

Email this article to a friend

or share it with one of these popular networks:


Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

NEXS Market Data

Currency UK Pounds
Share Price 80.50p
Change Today -2.50p
% Change -3.01 %
52 Week High 171.00
52 Week Low 75.00
Volume 63,250
Shares Issued 46.18m
Market Cap £37.18m
RiskGrade 174

NEXS Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
6.22% below the market average6.22% below the market average6.22% below the market average6.22% below the market average6.22% below the market average
12.20% above the sector average12.20% above the sector average12.20% above the sector average12.20% above the sector average12.20% above the sector average
Price Trend
72.69% below the market average72.69% below the market average72.69% below the market average72.69% below the market average72.69% below the market average
80.49% below the sector average80.49% below the sector average80.49% below the sector average80.49% below the sector average80.49% below the sector average
Income
66.46% below the market average66.46% below the market average66.46% below the market average66.46% below the market average66.46% below the market average
47.06% below the sector average47.06% below the sector average47.06% below the sector average47.06% below the sector average47.06% below the sector average
Growth
45.43% below the market average45.43% below the market average45.43% below the market average45.43% below the market average45.43% below the market average
46.34% below the sector average46.34% below the sector average46.34% below the sector average46.34% below the sector average46.34% below the sector average

NEXS Dividends

  Latest Previous
  Final Special
Ex-Div 07-Mar-24 16-Mar-23
Paid 05-Apr-24 03-Apr-23
Amount 2.00p 163.00p

Trades for 28-Mar-2024

Time Volume / Share Price
16:32 2 @ 85.62p
16:24 1 @ 85.62p
15:40 1 @ 85.62p
13:08 24,752 @ 76.00p
13:11 227 @ 82.77p

NEXS Key Personnel

CEO Charles Sweeney
CFO Dawn Hillman

Top of Page