Cash held steady at £9.6m, up slightly on last year, as the group continues to broaden its workload mix.

Tamdown, its main housing groundwork arm, secured fresh work on several multi-phase housing schemes. The order book grew 11% to £80m, even as the long-awaited housebuilding recovery faces further delays.

In a half-year trading update for the AIM-listed group, Nexus said the housing bounce-back was now expected “some months” later than first forecast.

Coleman Construction & Utilities, acquired last October, had integrated well and was already delivering efficiencies.

The business has been focused on closing out AMP7 water sector jobs and gearing up for AMP8 — the next five-year investment round under Ofwat’s regulatory cycle.

Chief executive Charles Sweeney said: “The group has made good progress on its strategy in the first half of FY25. As a result of actions taken, Tamdown is now leaner, more agile, and better placed for growth when the recovery begins.

“Coleman joined the group at the beginning of this financial year. As AMP7 work comes to a successful conclusion, our attention has turned towards the new AMP8 period starting later in the year, which is expected to bring a significant increase in activities.”

Nexus will post full half-year results on 15 May.