21st Sep 2026 15:22
(Alliance News) - Getech Group PLC on Monday called the first half of 2026 an "important step forward" as it reported improved cash generation and a strengthened recurring revenue base.
The Leeds, England-based locator of subsurface resources said pretax loss narrowed to GBP241,000 in the six months ended June 30 from GBP914,000 the year prior, as revenue rose 15% to GBP2.4 million from GBP2.1 million.
Adjusted earnings before interest, tax, depreciation and amortisation profit totalled GBP232,000, swung from a loss of GBP196,000 a year ago, reflecting revenue growth and "improved operating efficiency".
Getech highlighted a growing order book of GBP4.7 million at August 31 compared to GBP3.8 million at the end of 2025, and increased annualised recurring revenue of GBP3.0 million versus GBP2.8 million over the same timeframe.
Costs, excluding exceptional items, reduced to GBP2.4 million in the half-year from GBP2.5 million the year before. Exceptional items were nil in the current year period versus GBP286,000 a year ago.
Net cash generated from operating activities of GBP946,000 compared to GBP296,000 outflow a year ago. This helped boost cash balances to GBP640,000 at June 30 compared to GBP419,000 a year ago.
Chair Michael Covington commented: "The first half of 2026 has been an important step forward for Getech. We delivered profitable Ebitda, improved cash generation and strengthened our recurring revenue base, whilst continuing to invest in the proprietary data and technologies that differentiate the company. Our largely fixed cost base provides the potential for meaningful operational leverage as revenues expand."
Getch said industry conditions support a strengthening oil and gas exploration outlook and that it is evaluating emerging resource opportunities to support future energy requirements with major energy companies and governments alike seeking to secure long-term solutions.
Looking ahead, trading momentum remains positive and the company is well placed to meet market expectations for 2026, it said.
Shares in Getch shot up 19% to 3.87 pence each in London on Monday.
By Jeremy Cutler, Alliance News reporter
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