Confident Getech shakes off oil slide
Dienstag, 31 März 2009
Yorkshire-based Getech is positive in its outlook for 2009, despite a slump in crude oil prices.
The firm, which provides a mapping service to the oil and mining sector, says it is well-positioned to weather the drop in commodity prices.
Getech has posted mixed results for the six months until January 31st.
While revenue rose from £2,235,000 to £2,419,000, pre-tax profits dropped to £187,000 from £603,000.
Extra administrative fees were cited as the reason for the drop in profits.
Chairman Peter Stephens commented that their service is still popular among major oil companies.
He continued: "We remain confident about our medium and long term prospects despite the current global economic climate.
"Indeed, the relative stability of the crude oil price since December 2008 is seen as a positive indicator in itself."
Founded in 1986, Getech was originally a spin off from a University of Leeds research team and now has offices in Leeds and Houston, Texas.
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