Nexus Infrastructure reveals boost in revenues as it scales up network business
Nexus Infrastructure (Nexus) has boosted its revenues and order book, with the company looking to scale up its energy transition services such as its green networks business.
In its half-year results, it has reported group revenues of £80.3m, a near £20m like-for-like increase on last year’s total of £63.7m.
Its overall order book has risen to £306.7m from £301.6m this time last year, while net assets have also grown 8.5 per cent to £32.7m.
As for headwinds, the supply chain disruption and energy costs have also taken their toll on the business, with net cash declining from £13.7m to £12.5m, while operating profits have dipped from £1.5m to £1.1m.
Reflecting the current period of volatility, its eSmart Networks division, which provides public electric vehicle charging, industrial electrification and renewable energy connections, has enjoyed a 208 per cent growth in revenues to £8.6m.
However, it has also suffered an operating loss of £1.1m, despite a 72 per cent boost in its order book.
The division is one of three operated by the company, which also owns TriConnex and Tamdown which both made small profits.
Chief executive Mike Morris said: “I am pleased with the excellent progress made in the first half of the year pursuing our strategy in multi-utilities, energy transition and civil engineering. TriConnex continues to thrive, eSmart Networks is delivering growth and building its order book and Tamdown is on track with its medium term plan.”