Latest News
Leeds geoscience firm's profits soar - 01/04/08
A Leeds-based geoscience firm has announced today that its profits soared in the last six months of 2007.
Getech reported that its profit before tax for the six months leading up to January 31st 2008 was £603,000 compared with a loss of £21,000 during the same period in 2006.
The firm attributed this success to the recent publication of a selection of studies, which have been invaluable to oil exploration companies.
Peter Stephens, Getech's chairman, said: "We now believe we are in a strong position to take forward various strands of our strategy for medium-term growth.
"We continue to nurture our international relationships, particularly with Russia and China and anticipate further opportunities crystallising in the future."
He added that strong oil prices will push the need to discover new reserves, putting Getech in a strong position in the market.
Getech was founded in 1986 by Dr Derek Fairhead of Leeds University as a research enterprise, specialising in the provision of gravity and magnetic data.
© Adfero Ltd
