Electric Vehicle charging offers potential of juicy returns
Full year results from a provider of essential infrastructure service covered here highlight the growth potential of the market for electric vehicle charging. Having established a specialist business to support this nascent but growing sector it could do very nicely as the UK bans the sale of new petrol and diesel cars from 2030 and EV charging is rolled out more extensively.
Nexus Infrastructure: excitement from EV chargingFull year results from Nexus Infrastructure (LON:NEXS) for the year ending 30 September 2020 were broadly in line with revised expectations. As a leading provider of essential infrastructure services to the UK housebuilding and commercial sectors, Nexus has had a tough year, although there is plenty to excite for 2021 and beyond, notably from its newer EV charging business. Group revenue for the year fell 19% to £125.7m with Nexus falling to a pre-tax loss of £2.8m compared to the prior year’s profit of £5.7m. Prior to the impact of the pandemic Nexus had recorded year-on-year…