Joe Hoppe
Friday’s statement by Tekmar Group PLC indicated that it has suffered a pretax loss in its extended fiscal 2021 despite increasing revenue. This was due primarily to a challenging operating environment.
It said that the pretax loss for the 18-month period ended Sept. 30 was 5.8 million pounds ($7.8million) compared to a profit of GBP2.0million for fiscal 2020. It blamed the loss on a challenging operating environment, including the disruptions caused by the coronavirus pandemic.
The increase in sales and administrative costs offset the increase in revenue for the period to GBP47.0million, which was GBP40.9million for the year ending March 2020.
It expects that revenue for fiscal 2022 will exceed the 12-month equivalent in fiscal 2020, which it provided at around GBP32million, and that the revenue will be heavily weighted to the second-half.
“We still see 2022 a transition year in Tekmar and for the industry. However, we are encouraged by our own momentum with our record order books of GBP20.3m and the improving activity level across the industry,” Alasdair McDonald, Chief Executive, stated.
Joe Hoppe, [email protected]
