Tekmar Group (AIM:TGP), the AIM-listed provider of asset protection technology and offshore energy services, grew first-half revenue 31% to £16.2 million in the six months ended 31 March, swinging to an adjusted EBITDA of £0.1 million from a £0.7 million loss in the same period a year earlier.
Loss after tax narrowed sharply to £1.1 million from £2.7 million in the prior-year half, a 59% improvement, as gross margin expanded to 30.5% from 28.7%.
Order intake for the period reached £29.5 million, nearly three times the £10 million recorded in the first half of 2025, bringing cumulative intake since 1 July 2025 to more than £50 million and lifting the order book to £30.1 million, roughly 2.5 times its level a year ago.
Activity in the first half was weighted toward oil and gas, while three European offshore wind contracts with a combined value exceeding £20 million are expected to contribute revenue from the second half of 2026 onwards, leaving the current order book split 77% offshore wind and 23% oil and gas.
Middle East uncertainty has caused a temporary deferral of offshore energy services activity, with vessels kept out of commission, though the company said bottlenecks are showing signs of easing and expects the work to return.
The board said it expects trading momentum to continue and to deliver a "material improvement" in full-year 2026 financial performance versus 2025, with the current order book supporting "significantly increased" second-half revenue and profit delivery.
