StockMarketWire.com - Nexus Infrastructure booked an 18% fall in first-half profit, pinned on project delays and changes to customer build programmes.

Pre-tax profit for the six months through March fell to £2.8m, down from £3.4m on-year, even as revenue rose 13% to £71.0m.

The company held its interim dividend steady at 2.2p.

'We have taken immediate action to review and improve Tamdown's operational efficiency, addressing resource planning issues arising from changes to build programmes and cost pressures,' chief executive Mike Morris said.

'TriConnex has performed strongly and growth is anticipated to continue in line with management expectations.'

'eSmart Networks is scaling up and is delivering against our clearly defined growth plans.'

'Our £311m order book across all divisions is seeing substantial growth, up 66% since IPO, and gives us visibility of future revenues.'

'This, coupled with our strong cash generation, gives us confidence for the future and is reflected in our decision to maintain the interim dividend.'


At 9:47am: [LON:NEXS] Nexus Infrastructure Plc share price was +4.5p at 128p



Story provided by StockMarketWire.com