Tekmar's Pipeshield signs £4m quay contract
Tekmar Group
7.08p
14:34 15/11/24
-2.30%
-0.17p
Tekmar shares jumped after its Pipeshield business signed a contract worth more than £4m for a major quay development project.
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The offshore energy services provider said the deal was Pipeshield's biggest contract yet. Pipeshield will design, engineer and manufacture subsea scour protection for the quay.
"The contract … is for execution and revenue recognition in the current financial year ending 30 September 2021," Tekmar said.
Tekmar shares rose 8.3% to 67.70p at 10:12 GMT.