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17 Apr 2019 | 08:49

Entec expects earnings to come in 'materially ahead' of expectations

Entec upgraded its outlook on earnings on stronger than expected performance as rising oil prices prompted energy companies to ramp up operations driving up the company's sales.

Underlying earnings was now expected to be 'materially ahead' of the Board's previously upwards revised expectations. While international sales in North American continued to grow.

The Board now expected to report revenue for the year ended 31 March 2019 of approximately $10m.

The cash balance as of 31 March 2019 was $11.9m, compared to $15.5m as at 31 March 2018 reflecting investments made in the rental fleet, engineering projects and product development.

At 8:49am: (LON:NTQ) Enteq Upstream share price was +6p at 30.5p

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