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Tan Delta Systems PLC ( (GB:TAND) ) has provided an update.
Tan Delta Systems PLC announced a trading update for the year ending December 2024, indicating financial results lower than market expectations due to delays in pipeline orders. Revenue is expected to be approximately £1.2 million compared to £1.5 million in 2023, leading to an estimated loss before tax of about £1.2 million. Despite this setback, the company has a significant pipeline of sales opportunities and cash reserves of £3.0 million, with no debt. The company is actively working with major clients such as Shell and Wartsila, and has promising opportunities in the Middle East worth approximately $5.0 million, although some orders expected this year have been delayed. CEO Chris Greenwood emphasized the progress in developing sales opportunities and the potential for future growth.
More about Tan Delta Systems PLC
Tan Delta Systems PLC is a leading provider of intelligent monitoring and maintenance systems for commercial and industrial equipment. The company focuses on real-time oil analysis systems, working with large equipment operators, global oil and gas majors, multi-national equipment manufacturers, and global online retailers.
YTD Price Performance: 2.17%
Average Trading Volume: 9,074
Technical Sentiment Consensus Rating: Sell
Current Market Cap: £17.21M
For a thorough assessment of TAND stock, go to TipRanks’ Stock Analysis page.
