Enteq Technologies (NTQ)

Sector:

Fossil Fuels Production & Distribution

Index:

FTSE AIM All-Share

 9.75p
   
  • Change Today:
      0.000p
  • 52 Week High: 11.75
  • 52 Week Low: 8.25
  • Currency: UK Pounds
  • Shares Issued: 71.67m
  • Volume: 13,349
  • Market Cap: £6.99m

Enteq Upstream's interim revenues and earnings set to double

By Iain Gilbert

Date: Wednesday 25 Sep 2019

LONDON (ShareCast) - (Sharecast News) - Oilfield services and equipment supplier Enteq Upstream said on Wednesday that both interim revenues and adjusted underlying earnings were likely to be ahead of management expectations.

Enteq has seen "progressive growth" year-to-date, with results for the six months ended 30 September set to show revenue growth of more than 50% and a doubling of adjusted earnings before interest, tax, depreciation and amortisation.

The AIM-listed group said it had continued to benefit from the ongoing success of its equipment rental programme in the USA, despite some reduction in rig count during recent months, and has made further gains in international markets, particularly in China, which is expected to account for around 30% of first-half revenues.

Enteq's recently-announced development project with Shell was said to further enhance its product range, leading to a "significantly increased market potential", while ongoing technology partnerships were now delivering commercial returns and contributing to sales opportunities.

Cash balances fell from $11.9m to $10.7m as Enteq made further investments in engineering projects and its rental equipment fleet.

Chief executive Martin Perry said: "Enteq has delivered sequential growth for each equivalent period over the last three 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."

As of 1000 BST, Enteq shares had climbed 5.66% at 28p.

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NTQ Market Data

Currency UK Pounds
Share Price 9.75p
Change Today 0.000p
% Change 0.00 %
52 Week High 11.75
52 Week Low 8.25
Volume 13,349
Shares Issued 71.67m
Market Cap £6.99m

NTQ Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
47.75% above the market average47.75% above the market average47.75% above the market average47.75% above the market average47.75% above the market average
55.56% above the sector average55.56% above the sector average55.56% above the sector average55.56% above the sector average55.56% above the sector average
Price Trend
39.77% below the market average39.77% below the market average39.77% below the market average39.77% below the market average39.77% below the market average
55.56% below the sector average55.56% below the sector average55.56% below the sector average55.56% below the sector average55.56% below the sector average
Income Not Available
Growth Not Available

NTQ Dividends

No dividends found

Trades for 28-Mar-2024

Time Volume / Share Price
10:19 8,169 @ 9.66p
08:01 5,180 @ 9.66p

NTQ Key Personnel

CEO Andrew Law
CFO Mark Ritchie

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