StockMarketWire.com - Geological services provider Getech reported narrower losses as cost cuts offset a slump in revenue amid the pandemic impact on demand and customer budgets.

For the 12 months ended 31 December 2020, pre-tax losses narrowed to £1.8 million from £3.1 million, while revenue fell to £3.6 million from £6.0 million.

The cost base fell 20% to £5.1 million.

Looking ahead, the company said 2021 would be 'about continuing to service our current petroleum customers whilst building on our foundations for growth in the green hydrogen, carbon capture, strategic minerals and geothermal sectors.'


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