(Alliance News) - OTAQ PLC on Monday said it was trading in line with expectations ahead of the release of its nine-month earnings.
Last December, OTAQ announced that it has changed its year-end to December 31.
The Lancaster, England-based marine technology company focused on offshore oil and gas industries and aquaculture said revenue for the six months to September 2022 was GBP2.0 million, while adjusted earnings before interest, tax, depreciation and amortisation was GBP13,000.
The firm said trading in the final quarter of 2022 in line with expectations, with revenue for the nine months to December 31 expected to be GBP2.6 million, and Ebitda loss of GBP300,000.
OTAQ said the first quarter of 2023 trading was in line with expectations, as the second quarter is anticipated to be ahead of expectations due to the firm's current order intake, which has increased due to its investment in new products.
The company said: "The Aquaculture division is also benefiting from improved customer acquisition in its Chilean territory and from the development of new products including the recent launch of its water quality monitoring solution, which has already secured its first customers."
OTAQ shares were unchanged at 6.00 pence each in London on Monday morning.
By Harvey Dorset, Alliance News reporter
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