Nexus on track for 2022 as smart energy business skyrockets
Nexus expects to see its revenues grow and reach £138m for the year ended 30 September as a result of its smart energy business skyrocketing in the last 12 months.
In a trading update released today, the infrastructure business has revealed that its order book has been maintained, with a £286.8m total standing registered in 2021 – a £4.6m increase compared with 2020.
“2021 has been an important year for Nexus,” said the group’s chief executive Mike Morris. “With a return to profitability and a strong balance sheet, we were pleased to reinstate the payment of dividends in 2021.”
Esmart Networks, the group’s smart energy business gained especially strong traction, with revenues increasing by 370 per cent year-on-year and exceeding £10m. Esmart’s order book has also registered a substantial increase, growing 218 per cent, from £3.8m to £12.1m.
According to Morris, the business is a strong enough position to continue see a growth also in FY2022.
“Looking forward, we expect profits to grow in the year ahead and the business is in a strong position to meet the anticipated increased level of activity driven by a fundamental undersupply of housing and infrastructure in the UK,” he said. “This is coupled with the growing opportunities to support the UK’s energy transition.”