GEEC has released its FY 2019 results. These are broadly in line with our forecasts at the sales gas and revenue levels, but ahead on EBITDA and PAT due to a better performance on costs than we had allowed for. Operationally, the company is now progressing its programme to replace the pumps in a number of wells, supporting growth going forward. Equipment delivery delays for the pumps programme and adjustment of our Raniganj South gas calorific value assumptions lead us to reduce FY 2020 sales
14 May 2019
FY 2019 results
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FY 2019 results
- Published:
14 May 2019 -
Author:
Daniel Slater -
Pages:
4
GEEC has released its FY 2019 results. These are broadly in line with our forecasts at the sales gas and revenue levels, but ahead on EBITDA and PAT due to a better performance on costs than we had allowed for. Operationally, the company is now progressing its programme to replace the pumps in a number of wells, supporting growth going forward. Equipment delivery delays for the pumps programme and adjustment of our Raniganj South gas calorific value assumptions lead us to reduce FY 2020 sales