GETECH (AIM:GTEC) great results, short term outlook less positive, well placed nevertheless
The oil services business specialising in the provision of exploration data and petroleum systems studies and evaluations, announced excellent results for the year ending 31 July 2015. However, it’s the short term outlook which is less encouraging, although this business looks well placed to be a beneficiary of the current oil price sell-off over the longer term. Investor patience is also rewarded with a 5%+ dividend yield, for now.
For the year to end July 2015 the Group delivered pre-tax profit of £1,992,236 on revenue of £8,638,588 (2014: £6,592,798) with earnings per share up 10.7% to 5.77p. Operating profit of £1.987m resulted in a net operating cash inflow of £2.92m and free cash flow of £2m – not bad for a business with a market cap of only £13m!
The Balance Sheet is in decent shape with net cash of £3.69m equivalent to…
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