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LONDON (Alliance News) - Nexus Infrastructure PLC said Tuesday it expects its annual profit to be in line with management's views, after recording a strong increase in its order book.
For the year ended September, the company's order book came in at GBP289.7 million, a 43% year-on-year increase, which provides the infrastructure services provider with "good visibility for the year ahead".
The company said it was encouraged by the level of growth in its order book following improvement in each of its divisions. Tamdown's order book was up by 31% to GBP142.4 million at the end of September, TriConnex increased by 55% to GBP146.5 million and the newest eSmart Networks came in at GBP800,000.
Nexus said that its TriConnex division will deliver an increase in revenue compared to the previous year.
Meanwhile, Tamdown's revenues will be "marginally down" on last year as a number of the unit's contracts started later than expected due to planning delays.
Furthermore, with regards to its "nascent" eSmart Networks unit, Nexus said it is making "positive progress" as the business continues to be scaled up.
"Due to our continued focus on margins and costs, operating profits for Tamdown and TriConnex, and for the group overall, are expected to be in line with expectations," the company added.
Looking ahead, Nexus Chief Executive Officer Mike Morris said the company is confident in its future growth plans and outlook after the "significant" order book improvement.
Nexus will publish the results for the year ended September on December 10.
Nexus shares were trading up 0.8% at 181.50 pence each.
