Getech Group (GTC:AIM) – cracking half year results but how much more to go for?
The AIM quoted petroleum and minerals consultancy specializing in the provision of data and interpretation solutions to exploration teams around the world, announced excellent interim results for the six months ending 31st January 2013.
Revenue for the six months was up 24% to £3,967,000, profit before tax up 290% to £1,398,000 and diluted earnings per share up 250% to 3.28p There was also a 100% raise in the interim dividend to 0.4p. Operating cash flow was particularly strong with operating profit of £1.4m resulting in an operating cash inflow of approx £3m and closing net cash of £5.3m (2012:£1.6m). The strong performance was based on securing further Globe sponsors and major sales of the Group’s global gravity and magnetic data-sets, underpinned by the strong oil price which is driving greater level of E&P expenditure.…