Globe helps Getech keep sales spinning

OIL exploration data business Getech said it will exceed trading expectations this year thanks to a raft of new contracts.

In a trading update on the first half of its year, the Leeds-based company, which specialises in the provision of data, studies and interpretation services to the oil and mining exploration sectors, said that major contracts for its global gravity and magnetic datasets and its Globe data library would mean it will beat market expectations in the year to July 31, 2013.

Chief executive, Raymond Wolfson, said: “The first part of our financial year has been extremely successful, with the strong uptake of Globe and continuing strong data sales including two major sales of our global gravity and magnetic data products.

“As we have stated previously, we are seeing a strong synergy between the sales of Globe and sales of other products and services, and we anticipate that this will continue. We now have forward income, mainly but not solely from Globe, and a prospective sales pipeline that taken together give us confidence that our performance for the year as a whole will exceed expectations.”