21st Oct 2021 11:09
Tekmar Group PLC - Darlington-based offshore energy industry services - Says supply chain issues and cost control pressures have hit recent trading, and it now expects to report revenue of GBP46 million and adjusted loss before interest, tax, depreciation and amortisation in region of GBP1.2 million for the 18 months to September 30. For 12 months to March 31, reports revenue of GBP29.1 million.
"The board expects the profitability from the size and nature of contract mix to improve in the current financial year to September 2022, albeit the financial impact of continued disruption to global trade remains harder to quantify at this time," it says.
Chief Executive Alasdair MacDonald adds: "From a trading perspective the company has not been immune from the dislocation to global trade flows and its impact on global economic activity. Whilst this has impacted our financial performance in the near term, our cash position is sound, and we continue to be greatly encouraged with the operational progress we are making in delivering on our strategic goals and by the increase in enquiry book to GBP359 million, reflecting increased confidence in activity levels in our markets."
Current stock price: 41.48 pence, down 14% on Thursday
Year-to-date change: down 38%
By Paul McGowan; [email protected]
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