Tekmar wins £2m cable protection deals on Japanese offshore wind project

Tekmar Group plc ( (GB:TGP) ) has issued an update.

Tekmar Group plc has secured two contracts worth a combined £2 million to supply its 10th generation cable protection technology to a Japanese offshore wind farm developer. Work on the project will start immediately, with revenue expected to be recognised over the remainder of the 2026 financial year and into the first half of 2027.

The awards build on Tekmar’s prior technical analysis and design work for the same project, underscoring its integrated engineering model and deepening relationship with the customer. Management said the deals strengthen Tekmar’s presence in the Asia-Pacific offshore wind market, support its Project Aurora growth ambitions and contribute to a more diversified, multi-year order book for stakeholders.

The most recent analyst rating on (GB:TGP) stock is a Sell with a £10.00 price target. To see the full list of analyst forecasts on Tekmar Group plc stock, see the GB:TGP Stock Forecast page.

Spark’s Take on TGP Stock

According to Spark, TipRanks’ AI Analyst, TGP is a Neutral.

The score is primarily driven by weak financial performance (persistent losses, steep FY2025 revenue decline, and a return to operating/free-cash-flow burn), which outweighs improving margins and moderate leverage. Technical indicators add pressure due to bearish trend signals and oversold momentum, while valuation remains unattractive/unclear with negative earnings (negative P/E) and no dividend yield data.

To see Spark’s full report on TGP stock, click here.

More about Tekmar Group plc

Tekmar Group plc is a UK-headquartered provider of asset protection technology and offshore energy services focused on the global energy transition and marine infrastructure markets. Through its Asset Protection Technology and Offshore Energy Services divisions, it delivers proprietary engineering-led solutions that protect and extend the life of offshore wind farms, subsea interconnectors, oil and gas infrastructure, and port and harbour assets.

With around 40 years of experience, the Group has supplied asset protection and stabilisation solutions to more than 120 offshore wind projects across 25 countries, supporting over 40GW of installed capacity. Tekmar has deployed more than 12,000 cable protection systems and over 100,000 subsea stabilisation products, underpinned by extensive in-house engineering capabilities and a global footprint across Europe, Africa, the Middle East, Asia-Pacific and North America.

Average Trading Volume: 367,019

Technical Sentiment Signal: Buy

Current Market Cap: £15M

For an in-depth examination of TGP stock, go to TipRanks’ Overview page.