Nexus Infrastructure sees order growth across business

15th Feb 2022 13:29

(Sharecast News) - Nexus Infrastructure said in an update on Tuesday that the "fundamental growth drivers" for its business were positive.

The AIM-traded firm, which was holding its annual general meeting, said that was underpinned by macroeconomic trends, and government support for future-proofed utilities, electric vehicle charging, renewable energy and housing.

Chairman Richard Kilner said it was continuing to drive "significant growth" from its multi-utilities and energy transition services through TriConnex and eSmart Networks, with order book growth across all three businesses.

"Although inflationary pressures persist with recent increases in labour, material and energy costs substantially above trend, we are managing them across our supply chain and customer base," Kilner said.

"With a strong balance sheet and order book of £300m, Nexus is in a position to benefit from the high levels of demand for multi-utilities, energy transition and civil engineering."

Richard Kilner said the continued rapid growth of eSmart Networks had accelerated the company's recruitment and investment plans, which would result in profits weighted to the second half.

"Whilst inflationary challenges remain, the trading outcome for the year continues to be in line with the board's expectations."