Getech: Leeds firm sees revenue lift as oil and gas activity increases
Leeds-based subsurface research firm Getech saw its revenues lift in the first half of the year as the company said it had seen an increase in activity in its core oil and gas markets.
Getech said its trading had “strengthened” over the six months to 30 June, leading the company to expect revenue growth of 15 per to £2.4m.
It said the shift had been driven by a “positive mix of new and retained business”.
It came as Getech said its core oil & gas, mining and natural hydrogen sectors, had seen “increased exploration activity”.
The firm said it expected the combination to be reflected in its future performance.
Speaking on the results, Chris Jepps, CEO of Getech, said: "We are pleased with the progress made during the first half of 2026. Revenue growth, improved profitability and a stronger new business pipeline demonstrate that the actions taken over the past 18 months are delivering results.
“Demand across our core energy and natural resource markets remains encouraging and Getech is well positioned to support customers seeking high-quality subsurface intelligence and exploration insights with an excellent reference client list, including four of the world's six recognised oil and gas supermajors as Globe subscribers.”
Getech added in its announcement that instability in the Middle East had “reinforced the importance of secure global energy supply”, further driving renewed demand for its business.
The firm said this had helped it to maintain a "positive" trading momentum.
The latest announcement comes 18 months after Getech launched a “strategic plan” to refocus the business on its traditional markets.
In May of last year, Getech said it planned to “re-double” its focus on the oil and gas, as well as mining markets, as the company announced a pivot away from green hydrogen.
The announcement came after the firm delivered cost savings of £1.5m in 2024 through its “pivot” from green hydrogen, a move which formed part of a wider bid for cost savings across the group.
In February last year, Getech also announced that it had sold its Leeds headquarters building as the firm looked to “rebalance” its business and eliminate its debts.
The company said last year that it had exchanged contracts on the sale of its Nicholson House site for £725,000.
A spokesperson for Getech confirmed at the time that the sale would not include any staffing changes, adding that the company had been working on the sale of the building for a “number of years.”
As part of the contract, Getech has continued to occupy one floor of Nicholson House under a partial leaseback.
The news came after the firm also sold Kitson House, an adjacent building which also formed part of its headquarters, in January 2024.
Getech said in its latest announcement that actions taken to reduce its cost base in 2025 had led to adjusted EBITDA improving to £0.2m, compared to a loss in the comparable period a year prior.