Business
Preliminary Results
Preliminary Results.
About this update from Getech Group Plc
[{"type":"text","content":"\n GETECH Group plc\n31 October 2007\n\n31 October 2007\n\n\n\nGETECH Group Plc\n\nPreliminary Results\nFor the year ended 31 July 2007\n\nHighlights\n\n• Turnover for the year £3,561,159 (2006: £3,228,573).\n\n• Profit before tax £805,399 (2006: £972,013).\n\n• Proposed final dividend of 0.8p per share, a total of 1.2p for the\n year.\n\n• £1 million sale of newly obtained Russian Arctic magnetic data.\n\n• Significant sales of and pre-commitments for PSEG studies.\n\n• Purchase of and relocation to larger premises at Elmete Hall.\n\n\nFOR FURTHER INFORMATION, PLEASE CONTACT\n\nDerek Fairhead, Managing Director (Executive Chairman from 5 November 2007),\nGETECH Group plc 0113 322 2200\n\nRaymond Wolfson, Non-Executive Director (Chief Executive Officer from 5 November\n2007), GETECH Group plc 0113 322 2200\n\nThilo Hoffmann/Sebastian Jones, Landsbanki Securities (UK) Limited 0207 426 9000\n\n\n\n\nwww.getech.com\n\n\n\n\nChairman's statement\n\nI am pleased to report the second full year results since its Admission to AIM\nof GETECH Group plc ('the Company' or 'GETECH') for the period to 31 July 2007.\nGETECH is in the oil services sector, specialising in the licensing and\ninterpretation of gravity and magnetic data, undertaking proprietary geophysical\nservice work and the evaluation of petroleum systems.\n\nResults\n\nThe Company, including its US subsidiary, reported a profit before tax of\n£805,399 (2006: £1,010,013; restated: £972,013) after interest receivable of\n£158,946 (2006: £140,124) on a turnover of £3,561,159 (2006: £3,228,573). The\npost-tax profit was £562,431 (2006: £733,560; restated £695,560) giving earnings\nper share of 2.03p (2006: £2.65p; restated 2.62p).\n\nDividends\n\nThe Company is pleased to announce a final dividend of 0.8p to make 1.2p for the\n year, subject to shareholder approval at the Annual General Meeting on 29\nNovember 2007. This will be paid to shareholders on the register on 9 November\n2007. It will cost £221,538 in total and be payable on 7 December 2007. This\ndividend payment is in line with GETECH's commitment to a progressive dividend\npolicy.\n\nBusiness review\n\nThe year resulted in good progress in all areas of operation.\n\nIn particular, after prolonged negotiation, the Company acquired the rights to\nmarket a large and valuable aeromagnetic data ...