Trading Statement

RNS Number : 5943B

GETECH Group plc

22 February 2011

 



GETECH Group plc

("GETECH", "Company" or "Group")

TRADING STATEMENT - HALF YEAR TO 31 JANUARY 2011

GETECH, a leading geosciences business specialising in the provision of data, studies and interpretation services to the oil, gas and mining exploration sectors, announces a trading update for the six months ended 31 January 2011.

The Company is pleased to announce that trading has been in line with expectations, and continues the recovery seen in the previous two half-years.

In particular, we are pleased to report that the first sales arising from the Iraqi data marketing agreement (announced in December) were made within days of signature of the agreement and global data sales in general have continued to strengthen.

Interest in our studies continues and notably the second phase of our Equatorial Atlantic study, which covers both the West African and South American sides of the Atlantic, has proved to be very attractive and has sold well.

Commenting on the trading, Raymond Wolfson, Chief Executive Officer of GETECH Group plc,

said:

"We are very pleased with the continuing trend in data sales. With this and our increasing library of studies available for sale, I believe that the trends in our recovery will continue. Further, the strength of the oil price is encouraging and likely to underpin the demand for exploration data, studies and services with existing and new clients. First half revenue was back to pre-downturn levels generating a satisfactory pre-tax profit.  "

Enquiries

GETECH Group plc Raymond Wolfson, Chief Executive		Tel:  [phone]
WH Ireland Limited Katy Mitchell		Tel:  [phone]
Walbrook PR Helen Westaway		Tel:  [phone]

 

END

 

 

TSTSEIFIFFFSEIE