Research on Nexus Infrastructure Plc (NEXS:LON) from Progressive Equity Research
Nexus Infrastructure has indicated in its year-end trading update that it expects a loss for the 12 months to 30 September, against expectations of a modest profit, primarily reflecting ‘the continued challenging market backdrop’, impacting most leading housebuilders. Although the group, which delivers ‘front-end’ earthworks to the development and utilities sector, should be an early beneficiary of an upturn in construction activity, it ‘has remained focused on operational efficiency, cost discipline and cash management’. As such, the Board has removed the CEO position.
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