Tekmar "encouraged" by positive momentum as annual loss narrows

(Alliance News) - Tekmar Group PLC on Monday said it expects to a post a financial performance in line with current market forecasts for financial 2026, as it printed a narrowed loss in financial 2025.

Newton Aycliffe, England-based Tekmar is a technology and services provider for the offshore energy industry.

The company said it pretax loss from continuing operations narrowed to GBP4.2 million for the financial year ended September 30, from GBP4.5 million a year earlier.

Revenue however fell 12% to GBP28.7 million from GBP32.8 million, which Tekmar said was in line with market expectations.

The company said it experienced a "challenging" first half, but reported that the financial performance in the second half of the year was "significantly stronger".

The narrowed loss despite the weaker revenue is attributed to a combination of lower costs and higher incomes.

Tekmar reported no warranty provision expense for financial 2025, down from GBP656,000 a year earlier, and administrative expenses fell 5.2% to GBP13.6 million.

Other operating income multiplied to GBP259,000 from just GBP22,000, and net finance costs fell 7.8% to GBP653,000.

Shares in Tekmar rose 2.7% to 9.50 pence on Monday morning in London.

On current trading, the company said it is "encouraged" by the positive momentum carried forward from the second half of financial 2025, with it noting a current order backlog of GBP40.7 million.

Tekmar said it expects the first half of financial 2026 to come in ahead of the prior year comparative, with the full-year performance seen in line with current market forecasts.

The company noted that this reflects a "significant" annual performance improvement.

"FY25 has been a pivotal and highly productive year for Tekmar as we launched and started to execute on Project Aurora. The group delivered results in line with market expectations, alongside a material improvement in profitability in the second half," said Chief Executive Richard Turner.

"We are pleased to have been able to maintain our momentum post period end - in the first four months of FY26 we have delivered a record order book, with multi year visibility and have unlocked further growth potential by significantly strengthening our balance sheet. We are encouraged by the strong start to the new financial year and healthy pipeline we see ahead of us and are focused on delivering sustained, profitable growth and enhanced value for shareholders."

By Christopher Ward, Alliance News reporter

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