Shares in Tekmar Group PLC (AIM:TGP) started Monday higher thanks to a new contract win for a UK-based offshore wind farm project.
The contract, worth £5 million, involves the design and supply of Tekmar’s Generation 10 cable protection system (CPS) and associated ancillaries, including cable hang-off clamps. Delivery is expected this year.
Tekmar told investors that the new contract win was an important step in delivering ambitious plans to grow.
“Tekmar has been selected because of our integrated offering, including our early-stage engineering support, our customer focus and our track record which is unrivalled in the industry,” chief executive Richard Turner said in a statement.
“We will design and deliver next generation protection solutions to this landmark project in the UK, this is testament to the differentiated value that Tekmar brings to protecting offshore assets.”
Tekmar shares rose just over 6% in the morning’s early deals, to trade at 6.11p.