Tekmar Group plc ( (GB:TGP) ) has shared an update.
Tekmar Group plc reported improved financial performance for the year ending September 2024, with an adjusted EBITDA of £1.7 million on revenue of £33 million, aligning with market expectations. The company saw a significant increase in gross profit margin to 32.1%, driven by the execution of its profit improvement plan and the divestment of its subsidiary, Subsea Innovation Limited, for £1.9 million. Tekmar’s strategic plan under new CEO Richard Turner focuses on achieving greater scale through organic growth and mergers and acquisitions, with a robust M&A pipeline being actively assessed. The company is positioned to capitalize on the improving market environment and aims to maintain tight controls on cash management to support growth and working capital.
More about Tekmar Group plc
Tekmar Group plc is a company that provides engineering services and technologies to support and protect offshore wind farms, offshore energy assets, and marine infrastructure. With nearly 40 years of experience, the company focuses on optimizing and de-risking projects, improving safety, and lowering project costs. Their capabilities include geotechnical design and analysis, simulation and engineering analysis, bespoke equipment design and build, subsea protection technology, and subsea stability technology. Headquartered in Newton Aycliffe, UK, Tekmar Group has a global presence with offices and partnerships across Europe, Africa, the Middle East, Asia Pacific, and North America.
YTD Price Performance: 5.60%
Average Trading Volume: 311,393
Technical Sentiment Consensus Rating: Buy
Current Market Cap: £9.08M
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