Getech recovery not enough to prevent loss
OIL exporation data group Getech said second half trading has shown continuining recovery, but not enough to prevent it falling to a full-year loss.
The Leeds-based company, which supplies oil majors including Shell and BP with geological and magnetic data to help decide where to drill new wells, has been hit by restrained spending among its customers.
Getech said revenue is increasing and it believes the second half of its financial year, from February to July, will show an operating profit.
"However, the loss in the first half year will not be recovered and the year as a whole will still show a deficit," added the company.