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    TGP   GB00BDFGGK53

TEKMAR GROUP PLC

(TGP)
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Tekmar Group Shares Fall Amid Wind-Farm Cable Issues

05/04/2021 | 04:18am EDT

By Adria Calatayud

Shares in Tekmar Group PLC fell Tuesday after the company said that it is in discussions with Orsted AS to identify the cause and remedies for wind-farm cable issues flagged last week by the Danish renewable-energy developer.

Tekmar, a London-listed provider of technology and services for the global offshore energy markets, said it doesn't anticipate a material financial impact in relation to its discussions with Orsted. Tekmar said the discussions relate to Orsted's installed array cables on the Race Bank offshore wind-farm project in the U.K., with the main issue being the abrasion of cable-protection systems.

"The installation and maintenance of cables and cable protection systems in challenging subsea environments is complex and failure can be the result of many factors, including areas we are not involved in such as installation and scour protection," Tekmar Chief Executive Ally MacDonald said.

Shares in Tekmar at 0758 GMT were down 10% at 53 pence.

Write to Adria Calatayud at adria.calatayud@dowjones.com

(END) Dow Jones Newswires

05-04-21 0417ET

Stocks mentioned in the article
ChangeLast1st jan.
ORSTED A/S 4.28% 892.4 Delayed Quote.-28.23%
TEKMAR GROUP PLC 0.93% 54.5 Delayed Quote.-18.05%
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More news
Financials
Sales 2021 53,0 M 74,3 M 74,3 M
Net income 2021 - - -
Net cash 2021 4,00 M 5,61 M 5,61 M
P/E ratio 2021 118x
Yield 2021 -
Capitalization 27,9 M 39,1 M 39,2 M
EV / Sales 2021 0,45x
EV / Sales 2022 0,55x
Nbr of Employees 206
Free-Float 84,9%
Chart TEKMAR GROUP PLC
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Technical analysis trends TEKMAR GROUP PLC
Short TermMid-TermLong Term
TrendsBearishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 2
Average target price 90,00 GBX
Last Close Price 54,50 GBX
Spread / Highest target 65,1%
Spread / Average Target 65,1%
Spread / Lowest Target 65,1%
EPS Revisions
Managers and Directors
NameTitle
Alasdair MacDonald Chief Executive Officer & Director
Susan Ann Hurst CFO, Secretary & Executive Director
Julian Andrew Brown Non-Executive Chairman
Christopher John Gill Senior Independent Non-Executive Director
Ian Ritchey Non-Executive Director
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