Share Prices & Company Research

Market News

12 Jun 2020 | 09:51

Nexus Infrastructure raises £10m via placing

(Sharecast News) - Infrastructure services provider Nexus revealed on Friday that it has raised gross proceeds of £10m via a placing of 7.14m new ordinary shares. Nexus' new shares were issued at 140.0p each, representing a 15% discount to their closing price on Thursday, with the proceeds set to be used to strengthen the group's balance sheet and allow it to "emerge from the Covid-19 crisis significantly stronger" after capitalising on opportunities.

Elsewhere, the AIM-listed firm said pre-tax profits for the six months ended 31 March were up 21.4% to £3.4m, mostly driven by a 19% increase in revenues to £84.2m.

While housebuilding customers were now returning to work, Nexus did caution that its order book hod dropped 3.54% year-on-year to £300m.

Chief executive Mike Morris said: "We are encouraged by the recent return to work and, with Nexus's renewed strength and its market leading position, the board remains confident in the long-term prospects of the group."

As of 0950 BST, Nexus shares had dipped 1.88% to 161.90p.
Get in touch today
Join Redmayne Bentley
Talk to us now about opening a new account or transferring your account from another provider
0113 243 6941
Get in touch today
Contact your local office
Contact your local office to find out more
The value of your investments and the income from them may go down as well as up, and you could get back less than you invested.
Continuing our Personal Service: View our Latest COVID-19 Update: 15th January 2021
We use cookies on this site to improve your experience and help us provide you with a better website. An explanation of the cookies we use and their purpose can be found within our Cookie Policy. Your continued use of this site means you consent to the use of cookies.