Engineered to lead housebuilding revival The Labour government’s ambitious plan to build 1.5 million homes in five years comes as Nexus Infrastructure has re-engineered it's subsidiary, Tamdown, to focus on ‘front end’ civil engineering for the UK’s top house builders. After aligning the cost base in the face of sector and economic headwinds, our initial estimates indicate the group should return to modest profit by 2H 25E. Thereafter, operational gearing could offer substantial earnings growth under a range of scenarios –arguably ignored in the current valuation.