Getech shares slump as group warns on FY revenues
GETECH Group
2.45p
16:55 04/11/24
2.08%
0.05p
Getech shares slumped on Friday after the firm warned that full-year revenues would be lower year-on-year amid a "growing level of caution" among clients.
FTSE AIM All-Share
735.37
16:54 04/11/24
n/a
n/a
Oil Equipment, Services & Distribution
4,928.34
16:30 25/09/24
0.00%
0.00
Full-year sales were now expected to come in at £4-.0m-4.4m, down from £5.1m a year earlier.
However, Getech did note that demand for its services and data was increasing for 2024 and beyond, with its order book standing at £3.7m.
The AIM-listed firm also noted it had a "substantial" pipeline of projects across all petroleum, critical and battery metals and geothermal, though the order book was down from £4.4m in June.
As of 1330 GMT, Getech shares had slumped 27.45% to 5.26p.
Reporting by Iain Gilbert at Sharecast.com