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Tekmar signals highest levels of profitability in four years


Innovation House, the HQ of Tekmar Group (Image: -Newcastle Journal)
Innovation House, the HQ of Tekmar Group (Image: -Newcastle Journal)

Offshore group Tekmar has signalled its highest levels of profitability in four years.

The firm has issued interim half-year results for the period to the end of March in which it says its revenues revenues rose slightly to £16.2m, while gross profit was up 33% at £5.4m. The company still recorded a group loss before tax of £400,000, it said, though this was lower than last year.

Tekmar said that its order book of £24.1m included work across the energy and subsea markets, and that its sale earlier this month of the Subsea Innovation (SIL) subsidiary had strengthened the core business.

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