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Otaq PLC on Friday reported figures for the nine months to December 31, compared to financial year 2022 which ended on March 31, 2022.
The Lancaster, England-based marine technology company focused on offshore oil and gas industries and aquaculture said pretax profit in the nine months to December 31 was £2.5 million, widened from financial 2022’s £2.2 million.
Revenue was 40% lower at £2.6 million compared to £4.3 million.
Looking ahead, the company said: ‘There is cautious optimism that in the coming financial year the group can return to profitable growth due to the performance of the Offshore division.’
Otaq shares were flat at 4.00 pence each in London on Friday morning.
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