30th Dec 2025 11:09
(Alliance News) - Time To Act PLC on Tuesday said its primary focus is on ironing out volatility as it posted a 56% decline in interim turnover.
The Stockton-On-Tees, England-based engineering company focused on technology for the energy transition supply chain reported a pretax loss of GBP698,224 for the six months that ended September 30, widening from GBP184,494 a year earlier.
Driving the weaker bottom line was a 56% decline in turnover to GBP732,370 from GBP1.7 million.
Time To Act said the company failed to benefit from a large parts contract of the type seen in the prior year period, worth around GBP750,000.
The company explained that volatility in timing continues to affect its results, noting that its Diffusion Alloys business has experienced delays in booking large parts contracts in the Blue Hydrogen sector.
Administrative expenses remained broadly stable with the prior year, down 2.0% at GBP1.00 million from GBP1.03 million.
Time To Act was last traded at 8.00 pence on London's Aquis Exchange on Monday.
The company noted that around the end of the reporting period, its Diffusion Alloys business concluded an agreement for the sale GBP1.0 million worth of raw materials, primarily surplus coating compound.
Time To Act said it received GBP540,000 in proceeds during November, with the final GBP472,000 expected before the end of its financial year in March.
"The dominant feature of these results remains the challenging feast-to-famine nature of Diffusion Alloys' Large Parts work. The primary challenge for the business is to iron out this volatility, which will mean more stable cash flows and eliminate the requirement for the extraordinary efforts that went into agreeing the compound sale agreement booked over the end of the period," commented Chief Executive & Chief Strategy Officer Chris Heminway.
"As we close in on a significant volume of Large Parts work, I look forward to higher future sales. In the meantime, the group remains steadfastly focused on managing its cash reserves and so we continue to demonstrate that we can both raise external finance and release hidden reserves from our balance sheet when needed," added Heminway.
By Christopher Ward, Alliance News reporter
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