Shares in Nexus Infrastructure (LSE: NEXS) initially climbed over 6% on Friday morning following the announcement of a growing order book amid cautious market conditions.
Nexus said it anticipates revenue of approximately £26 million for the half-year ended March 31, reflecting a 49% decrease from £51.0 million compared to the previous year, aligning with internal projections.
Chief Executive Charles Sweeney acknowledged customer wariness in awarding new contracts, attributing it to market uncertainty.
However, the company reported a 26% increase in its order book to £72 million as of March 31, up from £57 million on January 31, indicating a potential 57% surge from £46 million at September 30.
Nexus Infrastructure praised its “strong balance sheet,” with £9.3 million in cash and equivalents, slightly below board expectations.
CEO Sweeney affirmed the company’s focus on operational efficiency and cost management despite early signs of market improvement.
Shares in Nexus Infrastructure rose by 6.3% before reversing and settling at -3.9% by 09:45 GMT.
The firm’s half-year results are scheduled for release on May 16.
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