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TRADING UPDATES: Supreme annual revenue jumps; Pelatro in Asia deal
Tue, 4th May 2021 19:13
(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:
Supreme PLC - maker of fast-moving consumer goods - Expects 30% revenue hike in year ended March 31 to GBP121 million from GBP92.3 million, in line with management expectations. Adjusted earnings before interest, tax, depreciation and amortisation tipped to rise 20% to GBP19 million from GBP16.2 million. I am delighted to provide our first trading update since our AIM admission in February 2021. We continue to build on our strong track record of growth, with our strategy to focus on high growth categories such as vaping and sports nutrition really coming to fruition, Chief Executive Officer Sandy Chadha comments.
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Tekmar Group is supporting Orsted in identifying array cable protection issues at its Race Bank offshore wind farm.
The company issued a statement in response to response to commentary provided by Orsted in its first quarter interim report, published on 29 April 2021.
Tekmar chief executive Ally MacDonald
(pictured) said: “We note the comments made by Orsted in their recent interim report relating to their discovery of array cable issues on a number of their wind farms across the UK and Continental Europe, and more specifically, in relation to cable protection systems.
“We are in discussions with Orsted relating to the protection of their installed array cables on one offshore wind farm project, namely Race Bank in the UK, and are supporting them to identify the root cause and remedial actions through standard operational engagement.”
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Provided by Dow Jones 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.
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Turbine standing tall at Orsted s Race Bank, one of those affected by cable protection system faults.
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Tekmar Group is working with Orsted to identify the “root cause” of multi-million pound cable faults at several offshore wind farms.
The London-listed energy services firm has confirmed it is in discussions with the Danish renewables giant after the latter admitted the issues, related to cable protection systems (CPS), last week.
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