StockMarketWire.com - Geoscience company Getech said it expected half-yearly revenues to fall year-on-year following the company's decision to reduce the size of its geoscience services team.

Revenue in the first half was expected to fall to £2.5m from £2.9m a year earlier, but the company said a significant portion of the forward sales, which rose to £1.6m from 1.4m a year earlier, was expected to unwind to revenue in the second half of th year.

The lower revenue in the first half was blamed on a near-term reduction in the size of the geoscience services team, a step that was taken in the fourth quarter of 2018 to address the team's lossmaking position.

The increase in new forward sales of products and services grew Getech's order book by £1m, the company said.

'Overall, the company continues to trade in line with current market expectations,' it added.












At 9:17am: [LON:GTC] GETECH Group PLC share price was -1.5p at 24.5p



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