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TP Group PLC - Wincanton, England-based consulting, software and engineering company - Provides an update on the board's current expectations for delayed results for the year ended on December 31, 2021. It anticipates a widened pretax loss for 2021 to be £7.4 million compared to £3.6 million a year ago, as it cites ‘one-off loan arrangement fees [which] increased the finance costs by £200,000 to £500,000 year on year’. Operating loss is expected to widen to £6.9 million from £3.3 million. Gross profit is also expected to drop to £7.5 million from £8.5million year-on-year.
More positively, revenue is forecast to rise to £44.4 million from £39.1 million.
Says the anticipated results reflect a detailed review of TPG Maritime contracts as part of the year-end close process.
TP Group says its 2022 performance is ‘operating in line with the board expectations and ahead of the prior year’.
Current stock price: 1.37 pence, down 17% on Tuesday
12-month change: down 62%
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