Published: 04 August 2020 04 August 2020
Tekmar Group has released results for the year ended 31 March 2020 (FY20). Key highlights include:
- 46% growth in Group sales which now exceeds GBP 40 million.
- Increases in exports with ‘rest of world sales’ delivering over £10m or 25% of Group turnover.
- Third acquisition completed with Pipeshield International now working alongside Group companies on multiple projects.
- Revenue growth for Subsea Innovation is up 147%, representing now 20% of Group revenue.
- AgileTek increased sales by over 200% and now represents 5% of Group revenue.
- Team growth of 26 people to a total of 206, representing a 14% increase.
- ZERO lost time incidents across the group.
After 12 years with Tekmar James Ritchie, Chief Executive Officer has decided to step down from the board, handing responsibility to Alasdair MacDonald. James will remain with the business until the end of the current financial year or as such time that an orderly hand over is completed. Ally joined Tekmar in 2013 and has over 30 years’ experience in the Oil and Gas industry holding senior executive positions including CEO and COO with Wellstream International and Wellstream Holdings and Seanamic Group. Ally spent 19 years with Technip UK, acting as Managing Director of Technip Umbilicals Limited between 2005 and 2008.