|
|
Article: Gas Turbine Efficiency plc Preliminary Results for the Year to 31 December 2005.(Company overview)
- Article from:
- Business Wire
- Article date:
- April 3, 2006
CopyrightCOPYRIGHT 2006 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
LONDON -- Gas Turbine Efficiency plc ("GTE" or "the Company"), a leading supplier of advanced high pressure gas turbine cleaning systems, announces its financial results for the year ended 31 December 2005 which have been prepared in accordance with IFRS.
Financial Highlights
--Revenues increased 112% to $5.3m (2004: $2.5m)
--Gross margin remained stable
--Revenues from industrial sector up 185% to $3.7m (2004: $1.3m)
--Increased aviation revenues by 45% to $1.6m (2004: $1.1m)
--Reduced EBITDA deficit to $0.3m (2004: $1.1m) excluding the impact of IFRS and one-off costs