News blog
Gas Turbine Efficiency
- BY: Andrew Hore |
- POSTED: 12/01/2009 |
Gas Turbine Efficiency has nearly doubled its 2008 revenues.
Revenues increased 96% to around $35m in 2008, while the order book has jumped from $6.4m to $17.5m. This includes its first order from Kazakhstan. No mention has been made of profitability.
GTE made a maiden profit of $367,000 at the interim stage. Analysts’ had been expecting profits of £700,000 – they state their forecasts in pounds – but revenues were better than expected.
GTE supplies equipment to clean aero engines and industrial gas turbines in order to make them more efficient. It is exclusive supplier to Pratt & Whitney and it placed an $8m order during the second half of 2008.
In June 2008, GTE raised £4.9m from a placing at 38p a share. The shares rose 4.2.5p to 22p each following the trading statement, valuing GTE at £15.9m.
Collins Stewart has taken over from Libertas as nominated adviser and joint broker. Mirabaud is the other joint broker.
© 2024 Aim Micro. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
- Browse by issue
- All issues
- Popular tags
- All tags
- AIM Micro feeds
Keep up to date with articles published at AIMMicro.com. Subscribe to AIM Micro RSS Feeds
|