28th Jun 2022 14:24
TP Group PLC - Wincanton, England-based consulting, software and engineering company - Provides an update on the board's current expectations for delayed results for the year ended on December 31, 2021. It anticipates a widened pretax loss for 2021 to be GBP7.4 million compared to GBP3.6 million a year ago, as it cites "one-off loan arrangement fees [which] increased the finance costs by GBP200,000 to GBP500,000 year on year". Operating loss is expected to widen to GBP6.9 million from GBP3.3 million. Gross profit is also expected to drop to GBP7.5 million from GBP8.5million year-on-year.
More positively, revenue is forecast to rise to GBP44.4 million from GBP39.1 million.
Says the anticipated results reflect a detailed review of TPG Maritime contracts as part of the year-end close process.
TP Group says its 2022 performance is "operating in line with the board expectations and ahead of the prior year".
Current stock price: 1.37 pence, down 17% on Tuesday
12-month change: down 62%
By Xindi Wei; [email protected]
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