StockMarketWire.com - Subsea protection system provider Tekmar swung to a first-half profit after its revenue more than doubled.

Pre-tax profit for the six months through September amounted to £0.83m, compared to a loss of £2.61m on-year.

Revenue jumped to £17.1m, up from £7.1m.

Tekmar said it was 'firmly on track' to meets its expectations for the full year, with its revenue still expected to be second-half weighted.

'We have made great progress in the first half of the year, delivering record revenue growth and securing the company's largest ever order book,' chairman Alasdair MacDonald said.

'All our businesses performed well, the outlook remains very positive with our core market, offshore wind, forecast to grow substantially in the long term and the integration of our acquisitions and long-term strategy have progressed well.'

'We believe that the group is firmly on track to meet our expectations in the current year with positive market indications for the future.'



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