Strong order book gives Getech in Leeds a head start

The Leeds-based firm grew its orderbook by 48 per cent in 2019. However, it expects 2020 to be a “very challenging year”, despite first quarter revenue, forward sales and profitability for 2020 being were all ahead of the first quarter last year.

Jonathan Copus, CEO of Getech, said: “We are not complacent about the significant challenges ahead and we are taking actions to help us manage the risks and uncertainties that we face.

“We are however also confident that our financial strength and the transferable nature of our skills and technologies give us the toolkit to successfully navigate what are unprecedented commercial conditions.”

The coronavirus outbreak has impacted travel to many of its customers since the start of 2020.

It has led to Getech establishing remote communication practices early and the Leeds-based firm has also expanded its ability to deliver online trials of its products.

The business added that uptake in product training from home working customers has been strong.

Getech’s first quarter for this year was also boosted by the signing of a new customer, data sales and the renewal of a service contract. The firm added that April had been quieter in terms of sales closed, but in the month an important global license for its Exploration Analyst software product was renewed.

Mr Copus said: “Our sales pipeline remains diverse and continues to benefit from 2019 campaigns in new regions, with new potential customers.

“We also see an opportunity to accelerate our diversification and growth plans - through both organic steps and acquisition.”

John Cummins, analyst at WHIreland, said: “Fundamentally, we believe that Getech is well positioned in its existing and target markets given its strong product set, its proven ability to flex its cost base and balance sheet strength, to emerge well from the present uncertainty and to deliver upon its growth strategy.”

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