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Article: Gas Turbine Efficiency fires up.
- Article from:
- Investors Chronicle - magazine and web content
- Article date:
- April 21, 2009
CopyrightCOPYRIGHT 2009 FT Business. 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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Byline: Jonas Crosland
TIP UPDATE: GTE enjoys another year of strong growth and makes a maiden profit.
Solid demand for its performance-enhancing technology for turbines meant a landmark year for Gas Turbine Efficiency. Turnover from the industrial and combustion division - which accounts for 80 per cent of group sales - grew an impressive 124 per cent to $28.2m (GBP19.1m), helping the company to a maiden profit.
The aviation side also traded well despite depressed global air travel, and sales to Pratt & Whitney - where GTE is the exclusive supplier of engine wash systems - grew by 33 per cent. Contracts were also secured with Singapore ...