UK's Tekmar H1 revenue rises 31% on oil and gas demand
UK's Tekmar H1 revenue rises 31% on oil and gas demand
Overview
UK asset protection tech firm's H1 revenue rose 31% yr/yr, driven by oil & gas projects
Adjusted EBITDA turned positive, reflecting improved margins and cost control
Company expects stronger H2 performance, supported by record order backlog and contract wins
Outlook
Tekmar expects strong revenue and profit delivery in H2 FY26
Company expects trading momentum to continue and material improvement in FY26 vs FY25
Tekmar sees positive long-term growth indicators across offshore wind, oil & gas, and marine infrastructure
Result Drivers
OIL & GAS SHIFT - Co said increased activity and revenue mix weighted toward Oil & Gas projects drove H1 results
PROCESS IMPROVEMENTS - Co attributed higher gross margins to process improvements and cost control
PRODUCT PORTFOLIO CHANGE - Co said sales of polyurethane products to Oil & Gas customers offset lower concrete product revenues and helped manage Offshore Wind project timing
Company press release: ID:nRSR8197Ia
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
H1 Revenue |
| GBP 16.20 mln |
|
H1 Adjusted EBITDA |
| GBP 100,000 |
|
H1 Gross Margin |
| 30.50% |
|
Analyst Coverage
The one available analyst rating on the shares is "strong buy"
The average consensus recommendation for the construction & engineering peer group is "buy."
Wall Street's median 12-month price target for Tekmar Group PLC is GBp30.00, about 78.6% above its June 17 closing price of GBp16.80
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)