Montrose-based Tekmar Group has announced contract wins worth £6million, adding to £17million of new business already secured this year.
The AIM-listed provider of products and solutions for the global offshore energy sector updated markets on its swelling order book this morning.
Tekmar subsidiary Pipeshield International has been awarded contracts with a combined value in excess of £4million. The contracts comprise the manufacture and supply of concrete mattresses and sleepers to support subsea pipelines, PRP rock bags and lifting equipment rental.
The contracts are scheduled for delivery in the current financial year, which for Tekmar ends on 30th September.
Separately, Tekmar's offshore wind business has secured a contract award of approximately £2million with a tier one offshore wind contractor for the design and supply of its Generation 10 cable protection system (CPS) product and associated ancillaries. Delivery of the CPS systems is scheduled for September 2025.
These contract awards support order intake of approximately £23million in the financial year to date.
The groups chief executive, Alasdair MacDonald, said: "These contract wins highlight a number of the themes we outlined in our recent results: we are continuing to secure contract volume on more favourable terms and our pipeline and enquiry book remains healthy across the group.
"Additionally, our Pipeshield business continues to win significant and profitable contracts balancing our offshore wind opportunity and building on its strong performance in 2023."
FTSE 100
The UK's flagship share index, the FTSE 100, was up five-points at 7,916 shortly after opening this morning.
Brent crude oil futures were down -1.65%, trading at $89.67 a barrel.
Companies reporting today
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