IN BRIEF: Tekmar assessing M&A opportunities as annual loss narrows
Tekmar Group PLC - Newton Aycliffe, England-based technology and services provider for global offshore energy markets - Pretax loss from continuing operations narrows to £4.5 million in the year to September from £8.5 million a year prior, despite revenue falling to £32.8 million from £35.6 million. Bottom line benefits from fall in cost of sales to £22.3 million from £27.3 million, and lower administrative expenses. A refreshed three-year strategy is in-place under new Chief Executive Richard Turner, focused on achieving greater scale through accelerated profitable organic growth and complementary M&A. Tekmar says the board is actively assessing M&A opportunities and is ‘encouraged’ that the market environment is improving. Believes a reasonable expectation is for earnings before interest, tax, depreciation and amortisation for financial 2025 to be consistent with financial 2024, with Ebitda to be second half weighted. Adjusted Ebitda in the year to September was £1.7 million, multiplied from £0.6 million a year ago.
Current stock price: 6.00 pence, down 9.1% in London on Tuesday
12-month change: down 44%
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