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Greka Engingering and Technology Ltd: Interim Results 2015

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Hydrocarbon Engineering,

Greka Engineering and Technology has announced its interim results for 2H15.

The company’s financial highlights included:

  • Group revenue of US$2.7 million.
  • Gross profit increase of 26% to US$0.7 million.
  • EBITDA of US$0.3 million.
  • Loss per share reduced 20% to US$0.12.
  • Cash and bank deposits of US$3.0m at period end.

The company’s operational highlights included:

  • Gas volume processed of 661 244 million ft3, a 21% y/y increase.
  • Sales volume of 577 656 million ft3, representing a 21% y/y growth.
  • Total pipeline owned and managed by the company of 51.9 km.
  • 8676 154 kWh of electricity generated during period, a 23% y/y increase.
  • Sales volume of 7 080 091 kWh, representing y/y growth of 29%.
  • Total power line owned and managed by the Company of 79.6 km.
  • Sales volume of 31 gas dispensers, and 48% decrease in equipment sales.

Randeep Grewal, Chairman of Greka Engineering, commented: "We are quite pleased with the results at half year. The expected reduction in equipment sales was well off-set by an increase in the core business of processing and transporting gas and generating power. The continuing expansion in the client base for power sales demonstrates the potential within this new market segment for the Company.”

Edited from press release by

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