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Getech Group (GTC) Shares Rise On Sale of Data and Studies

Updated: 30 Jun 2021

Shares of Getech Group (LON: GTC) are climbing after the company revealed it has made a “significant” sale of its geoscience data and a regional study package.

The company, which provides geoscience data, software and analytic products and services to the energy industry, said the value of the package is $536,000.

The sale is expected to be fully recognised in the current financial year, with the company continuing “to trade in line with current market expectations for FY2021.”

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“Getech's geoscience data, which includes gravity and magnetic data that we have gathered over decades, are a unique and proprietary resource that underpin our knowledge and analytic products and services,” said Getech's CEO, Jonathan Copus.

“We expect increased demand for our geoscience data, software and analytic products as both existing energy and natural resource customers and new customers work to decarbonise the energy sector,” he added.

Following the announcement, Getech's share price is up over 2% at 25p, adding to their year to date gains of 96.7%.

Should you invest in Getech shares?

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