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Hertsford Capital said results would show a 'doubling of revenues' for the year as OTAQ's annual trading performance had been slightly ahead of market expectations.
The results for the 12 months to 31 March 2020 would reflect a 'doubling of revenues, a positive adjusted EBITDA* and net cash of approximately £3m,' the company said.
OTAQ aquaculture, which represented approximately 60% of group revenue, hjad started the year well with about 63% of 2021 revenues secured as at the end of May.
OTAQ Connectors was trading in-line with the board's expectations but OTAQ Offshore was exposed to the oil and gas markets which were 'showing signs of slowing due to the declining oil price and the broader limitations on the oil and gas sector resulting from the Covid-19 pandemic,' it added.
At 9:13am: (LON:OTAQ) share price was 0p at 59.5p