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Article: Gas Turbine Efficiency plc Preliminary Results for the Year to 31 December 2007.(Company overview)
- Article from:
- Business Wire
- Article date:
- April 8, 2008
CopyrightCOPYRIGHT 2008 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)
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LONDON -- Gas Turbine Efficiency plc ("GTE" or "the Group"), a leading provider of advanced systems to enhance the performance of aviation and industrial turbines, announces its financial results for the year ended 31 December 2007.
Financial Highlights
* Group revenues increased by 279% to $17.8m reflecting first time acquisitions and organic growth (2006: $4.7m)
* Industrial sector revenues up 530% to $12.6m (2006: $2.0m)
* Aviation sector revenues rose 93% to $5.2m (2006: $2.7m)
* Operating loss amounted to $2.9m (2006: $2.7m)
* Reduced operating loss, excluding exceptional legal costs, of $1.7m (2006: $2.7m)