Business
Full year results for 12 months ended 31 Dec 2024
Full year results for 12 months ended 31 Dec 2024.
About this update from Tan Delta Systems Plc
[{"type":"text","content":"\n\nTan Delta Systems PLC\n(\"Tan Delta\" or the \"Company\")\nFull year results for the twelve months ended 31 December 2024\n \nTan Delta Systems plc (AIM:TAND), a leading provider of intelligent monitoring and maintenance systems for commercial and industrial equipment announces its audited results for the twelve months ended 31 December 2024.\nFINANCIAL HEADLINES\n· Revenue of £1.22m, down 16% (2023: £1.46m)\n· Gross margin increased to 62.1% (2023: 59.6%)\n· Loss before tax of £1.17m (2023: £1.05m adjusted*)\n· Cash of £3.08m as at 31 December 2024 of (31 December 2023: £4.55m)\nCUSTOMER HEADLINES\n· Increased pipeline to £35million (31 December 2023: £2.5 million)\n· 20 active trials underway\n· 2 new distributor agreements signed in the Middle East\n· Working in partnership with four of the world's leading engine manufacturers\nOPERTIONAL HEADLINES\n· Continued product development to ensure our products are easier to install and commission\n· Advancements made into value added services using data generated from our sensors\n· Development underway of a sensor for water based fluids. Project co-funded by a major engine OEM\n· Sensors approved by accredited organisation during the year\nSENIOR MANAGEMENT CHANGES\n· Joy Alvarez appointed to the board as Non-Executive Director on 9 April 2024\n· John Higginbottom appointed to the board as CFO/COO on 5 July 2024\nSteve Johnson, former CFO resigned from the Company on 4 July 2024\n*Adjustments relate to IPO costs and share option charge\n \nSIMON TUCKER, CHAIRMAN OF TAN DELTA, COMMENTED:\n\"With minimal marketing, the company enjoys significant interest in its real time oil analysis based equipment monitoring solutions. The business enjoys a fundamental base for its position in the market which is its unique core technology and, after several years supplying small numbers to some notable entities such as SHELL, all important credibility. It has developed a focused pipeline of sales opportunities where and is now supporting multiple evaluations that range from the world's largest online retailer who operates hundreds ...