Getech shares slump as group warns on FY revenues

15th Dec 2023 08:11

(Sharecast News) - Getech shares slumped on Friday after the firm warned that full-year revenues would be lower year-on-year amid a "growing level of caution" among clients.

Full-year sales were now expected to come in at £4-.0m-4.4m, down from £5.1m a year earlier.

However, Getech did note that demand for its services and data was increasing for 2024 and beyond, with its order book standing at £3.7m.

The AIM-listed firm also noted it had a "substantial" pipeline of projects across all petroleum, critical and battery metals and geothermal, though the order book was down from £4.4m in June.

As of 1330 GMT, Getech shares had slumped 27.45% to 5.26p.

Reporting by Iain Gilbert at Sharecast.com