Enteq Technologies PLC - oil and gas drilling technology company based in Buckinghamshire - Says revenue for the year ended March 31 will be above market expectations, and adjusted earnings before interest, tax, depreciation, and amortisation in line with expectations. Anticipates full-year revenue will be around USD7.2 million, with USD4.9 million in the second half. Adjusted Ebitda is forecast at USD300,000. Attributes this to a strong international market recovery that started in the second half of the year. Say that it has not been doing business with Russia since the beginning of "hostilities" towards Ukraine with a "minimal impact" on its business.
In financial 2021, the firm reported revenue of USD5.1 million and adjusted Ebitda of USD100,000. Thus, the projections represent a 41% revenue rise and multiplied adjusted Ebitda.
Current stock price: 14.50 pence, up 3.6% on Thursday
12-month change: down 18%
By Abby Amoakuh; abbyamoakuh@alliancenews.com
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Enteq Tech (NTQ)