The offshore specialist is confident of further growth despite events in the Middle East having disrupted some projects

Offshore engineering group Tekmar has increased revenue and narrowed losses amid a record level of work.

The County Durham-based cable protection specialist issued unaudited interim results which show a 31% rise in revenue to £16.2m across the six months to the end of March, as operating losses fell from £2.3m in the first half of 2025 to £877,000. Losses after tax in the same period was £1.1m, compared with £2.7m.

Bosses at the Newton Aycliffe firm said there had been higher orders during the half year with a current book of £30.1m set to help second half revenue and profits. And while they warned of uncertainty in the market caused by conflict in the Middle East, Tekmar told investors that trading momentum was expected to continue and lead to improved full year 2026 numbers.

CEO Richard Turner said: “The business performed well in the first half of this year, delivering a material improvement in year-on-year profitability consistent with our guidance. We are encouraged by the continued progress we are making in delivering on the Project Aurora strategic plan.

“The reorganisation and refocus of the ‘front end’ of our business combined with improved commercial effectiveness has enabled the group to operate with a record level of work, increased utilisation, improved visibility and a stronger balance sheet. The ongoing impact of events in the Middle East has had some disruption to projects and supply chain in the region.

“Despite this, the board anticipates strong revenue and profit delivery in the second half as we continue to build our improved revenue visibility into FY27. This momentum, together with the healthy pipeline we see ahead of us, supports our confidence in delivering sustained, profitable growth and enhanced value for shareholders.”

Growth came across Tekmar’s asset protection technology and offshore energy services divisions with revenue rises of 30% and 52% respectively. Gains in offshore energy services were below managers’ expectations given low revenue in 2025 with war in the Middle East said to have exacerbated delays to project starts.

Tekmar has been carrying out a transformation plan – Project Aurora – since its 2025 financial year. That plan is intended to create a larger and more diversified business, with the recent growth in orders pointed to as success.

In the last year, work worth more than £20m has come from three European offshore wind projects which will deliver a bulk of revenue beyond the 2026 financial year. Directors also pointed to “high quality” oil and gas projects secured over the last year and encouraging progress in marine infrastructure revenues including two important contracts secured in the first half supporting ports and harbour infrastructure projects.

It forms part of a £15.3m investment in new buses by Transport for Wales

Transport for Wales (TfW) has invested in 30 new buses serving its TrawCymru long distance network. TrawsCymru spans 13 routes across Wales and was created in 2012 to connect communities where rail links are limited.

Some of the new buses are in operation with the majority expected to be in service next month. The Welsh Government, through its transport body TfW, invested £15.3m on 61 vehicles in its 2025/26 financial year.

Following legislation passed earlier this year, TfW will be responsible for the planning of services across Wales through a new bus franchising model. This will see operators bidding for contracts to provide services, aligned with rail services, on bundles of routes identified by TfW. The first franchises will be awarded in south-west Wales next year. The all Wales franchise model is scheduled to be completed with north Wales in 2030.

Around three quarters of public transport journeys in Wales are made by bus.

The 61 new vehicles procured by the Welsh Government also include buses for other services, including Fflecsi, the on-demand transport that operates in various locations across Wales. It has also supplied some new buses to Powys as part of the mid Wales ‘bridge to franchising’ programme where TfW are supporting local authorities to recontract their bus services in the run up to franchising. TrawCymru now has a fleet of 54 buses.

Deputy Transport Minister, Mark Hooper, said: “Transport plays a key role in supporting economic growth by helping people access work, education, and other services.“Simplified fares, more frequent services, connectivity with other bus services and newer vehicles are all part of this service.

“I am really excited to be building on Wales’ existing transport connections with a fleet of new, modern, accessible vehicles designed for comfort and sustainability and I look forward to seeing Welsh communities benefit from these enhanced services.”

Lee Robinson, executive director for regional transport and integration at TfW, said: “TrawsCymru services are vital for communities across Wales, and we’re pleased to introduce these new buses to the network. They will deliver more comfortable, higher-quality journeys for our customers, while supporting a shift from private car use to public transport.

“Crucially, they will also help strengthen access to essential services, including healthcare, education, leisure and employment, opening up greater opportunities for communities across the country.”

On the impact of bus franchising, speaking earlier this year chief executive of TfW, James Price, said: “I think it’s a once-in-a-generation chance to build a bus network that truly reflects the needs of Wales; urban and rural, coast and countryside, young and old, and a network that’s reliable, affordable, flexible and easy to use. To do that, we want to take the best of the private, public and third sectors and combine it as part of a coherent and thought-through proposition for the whole of Wales.”

He said that buses, trains, trams, active travel routes and cars should “come together not in competition, but coherently as one.”

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The under strain car maker is said to be discussing commitments to its Sunderland operation

Car maker Nissan is said to be in advanced talks with the Government over financial support for its Sunderland operation.

Global news service Reuters has reported the Japanese manufacturer is discussing backing in return for commitments to long term investment in its Wearside plant. Grants, tax breaks and subsidies are said to be on the table in exchange for protection of jobs.

The news follows a recent announcement by Nissan that it is looking to partner with Chinese brand Chery – the maker of brands such as Jaecoo – to build its models at Sunderland. It could see Chery vehicles roll off the factory’s production Line One, which was paused earlier this year amid significant restructuring across Nissan.

Such a deal is set against widespread cost saving measures at Nissan, which is closing a number of factories globally and shedding thousands of jobs, including some in Europe. The efforts are in response to hefty losses and intense competition from global rivals.

Nissan’s Sunderland plant employs 6,000 people and is widely seen to be among the most productive in Nissan’s worldwide stable. It has received significant investment in recent years, including spending to support production of the new generation electric Leaf, which began late last year, and a much wider multibillion-pound vision to make the factory a flagship site for electric vehicle making through use of renewable energy and nearby battery production.

However, earlier this year it emerged that Nissan had decided not to produce drivetrains at the nearby Jatco factory, which was announced in early 2025 as the result of a £48m investment plan including £12m of funding from the Automotive Transformation Fund. About 80% of the Jatco facility’s capacity was to be given over to Nissan products, to be used in the building of electric models.

In recent weeks, car makers and MPs have called for the Government to bring forward a review of the Zero Emission Vehicle mandate which legally require rising sales of electric vehicles from manufacturers. Under the rules introduced in 2024 before being relaxed last year, car and van makers must make EVs 80% of the cars they sell by 2030, rising to 100% by 2035.

Nissan did not comment directly on the report of talks with the Government. But in a statement, a spokesperson said: “We are proud of our history in the UK including our manufacturing operations at our Sunderland Plant. We have a strong and collaborative relationship with the UK Government and look forward to continuing to work together moving forward.”

A Government spokesperson said: “Nissan is an important investor and long‑standing partner in the North East and the UK, and we continue to work closely with the company to support jobs, drive growth and secure the future of the automotive sector. We are taking significant action to back British carmakers and protect jobs, including £4bn of capital and R&D funding for zero emission vehicle manufacturing, lowering electricity bills for manufacturers and launching a £2bn Electric Car Grant supporting drivers to save up to £3,750 off the cost of a new EV.

“We’re committed to the ZEV Mandate and we’ve always said we’ll review it to ensure we’re taking a pragmatic and balanced approach that supports British industry and continues to drive investment.”

UFC is all in on America 250. 

UFC announced the launch of exclusive limited-edition apparel collections with four brands that have integrated themselves into streetwear culture: Anti Social Social Club, Warren Lotas, ID Supply Co., and Culture Kings. 

The limited-edition apparel collections made their debut on the White House South Lawn on Sunday during the UFC Freedom 250 spectacle and have flown off the shelves.

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Model wears a part of the UFC Freedom 250 collection, which released ahead of the fights on the White House South Lawn.  (UFC / Unknown)

The collaborations were a massive hit, as they set an all-time UFC merchandise record for a single event. They also doubled the company’s previous revenue record.

Within the collection there are T-shirts, hoodies, mugs, and more that combine America 250 and UFC into one. 

Anti Social Social Club is a Los Angeles-based brand whose deliberately limited released helped grow a massive and dedicated following in streetwear. For the UFC Freedom 250 collection, the Anti Social Social Club brought its signature aesthetic to the world’s premier mixed martial arts organization. 

ZERO BS. JUST DAKICH. TAKE THE DON’T @ ME PODCAST ON THE ROAD. DOWNLOAD NOW!

An Anti Social Social Club shirt that is part of the UFC Freedom 250 collection.  (UFC / Unknown)

Warren Lotas is also a Los Angeles-based artist and designer whose dark aesthetic, unapologetic style and hand-drawn imagery have become iconic, making him one of the most recognizable and sought-after names in streetwear. He released a fighter-themed T-shirt collection in the UFC Freedom 250 drop. 

ID Supply Co. the premium merchandise house and brand licensing group, created a graphic T-shirt line that showcases the historic UFC Freedom 250 card.

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UFC Freedom 250 hat, made by the Anti Social Social Club.  (UFC / Unknown)

Culture Kings offered UFC Freedom 250 fighter-themed T-shirts as the final part of the campaign. The collections are available on the UFC Store’s website but are quickly selling out. 

The UFC Freedom Spectacle saw 14 fighters compete in the cage, with an estimated 4,300 people in attendance. 

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