25th May 2016 10:20
LONDON (Alliance News) - Blenheim Natural Resources PLC on Wednesday said IGS Ltd, the geoscience services business in which it owns a 27% stake, saw revenue and profit grow in 2015.
Blenheim said IGS posted a net pretax profit of GBP228,000 for the year to the end of December, on revenue of GBP1.2 million. It said both profit and revenue were up 40% year-on-year.
IGS has recently secured new contracts in Cameroon and Burkina Faso and has completed large work programmes in Tanzania and Malawi, Blenheim said.
Blenheim shares were down 15% to 0.55 pence.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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