Nexus Infrastructure boosted by 'significant improvement' in order book

Nexus Infrastructure expects the full-year profits to be in line with expectations after seeing significant improvements to its order book throughout the period.

The AIM-listed outfit, which provides infrastructure services to the UK housebuilding and commercial sectors, told investors on Tuesday that it was "encouraged by the level of growth" in its order book which was aided by improvements to each of its divisions.

Tamdown's order book grew 31% to £142.4m, TriConnex improved 55% to £146.5m and eSmart Networks ended the year at £800,000 - taking the group's total order book to £289.7m, a 43% year-on-year increase.

Nexus also reported a continued high cash and cash equivalent balance of £26.4m, resulting in net cash of £20.0m.

Chief executive Mike Morris, said: "The significant improvement in the order book and the fact that we are attracting an even broader base of housing developers and affordable housing providers to our existing strong client base, provides us with confidence for our future growth plans and outlook for the business."

As of 1040 BST, Nexus shares had ticked ahead 0.83% to 181.50p.