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(Alliance News) - Nexus Infrastructure PLC on Thursday said its operating business is trading in line with its expectations and is well-placed for the future.
The Essex, England-based infrastructure services provider said that Tamdown, its operating business, continues to be in a "resilient position, with excellent customer retention and repeat business due to its reputation for quality delivery."
"The housing market continues to be in a long-term position of undersupply, with housebuilders and housing associations striving to accelerate delivery and ensure quality," said Chair Richard Kilner.
"As we enter the traditionally busy spring selling season for housebuilders, their performance will be key to underpinning FY23 and FY24 performance for Tamdown."
Nexus noted that Tamdown's trading has been in line with its expectations. Looking ahead, the company said: "the business is well-placed to retain and attract customers while making progress towards its previously stated medium-term financial and strategic objectives."
The company said it has adequate working capital and is well-capitalised for the future.
Shares in Nexus closed down 3.0% to 162.00 pence each in London on Thursday afternoon.
By Sophie Rose, Alliance News reporter
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