We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Enteq Technologies Plc | LSE:NTQ | London | Ordinary Share | GB00B41Q8Q68 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 9.00 | 8.50 | 9.50 | 9.00 | 9.00 | 9.00 | 5,000 | 08:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Oil & Gas Field Machy, Equip | 6.25M | -2.8M | -0.0397 | -2.27 | 6.36M |
TIDMNTQ
RNS Number : 5374N
Enteq Upstream PLC
25 September 2019
25 September 2019
Enteq Upstream plc
("Enteq" or the "Company")
AGM Trading Statement
Enteq, the oilfield services technology and equipment supplier, will make the following statement at its Annual General Meeting which takes place at 12.00 noon today at 30 Gresham Street, London EC2V 7QP.
Enteq reports that year to date trading shows progressive growth, with the financial performance in the six months to 30 September 2019 likely to show revenues more than 50% higher than the same period last year, with a doubling of the adjusted EBITDA.
Both half year revenue and adjusted EBITDA are likely to be ahead of management expectations.
Enteq continues to benefit from the ongoing success of their equipment rental program in USA despite some reduction in rig count during recent months.
Enteq has made further gains in international markets, particularly in China, which is expected to account for around 30% of revenue in the first half of the current year. A recent confirmed order for use of Enteq's kit in the South West region of China for shale gas development, valued at approximately $0.5m, should be shipped by the end of September 2019.
On-going technology partnerships are now delivering commercial returns and are contributing to sales opportunities.
The recently announced development project with Shell for a Rotary Steerable System will further enhance Enteq's product range, leading to a significantly increased market potential.
Cash balances have reduced from the 31st March 2019 figure $11.9m to $10.7m as of today, as Enteq continues to invest in engineering projects and the rental equipment fleet.
The Company plans to release its interim results for the six months ending 30 September 2019 on 14 November 2019.
Martin Perry, CEO, commented
"Enteq has delivered sequential growth for each equivalent period over the last 3 years. The investment in building partnerships, bringing engineering projects closer to market and developing a broader international customer base are beginning to show the anticipated returns. Recent advances in China and a new technology agreement with Shell demonstrate the potential of our business."
For further information, please contact:
Enteq Upstream plc +44 (0)149 461 8739
Martin Perry, Chief Executive Officer
David Steel, Finance Director
Investec Bank plc (NOMAD and Broker) +44 (0)207 597 5970
Chris Treneman, Patrick Robb, David Anderson
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
END
AGMUSRWRKOAKUAR
(END) Dow Jones Newswires
September 25, 2019 02:00 ET (06:00 GMT)
1 Year Enteq Technologies Chart |
1 Month Enteq Technologies Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions