StockMarketWire.com - Subsea cable protection group Tekmar said it expected to post a 40% rise in revenue for the financial year just completed, and said current demand in the offshore wind sector remained strong.

The revenue increase for the year through March was achieved despite the lockdown and social distancing measures associated with Covid-19 impacting trading in the fourth quarter, Tekmark said.

The company's order book at the end of March was worth no less than £10m, up 39% on-year.

Tekmar said its balance sheet remained 'strong', with net cash at year end of about £2.1m.

'While our growth in the Period has been impacted by Covid-19, the demand for offshore wind remains strong,' chief executive James Ritchie said.






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