Aberdeenshire-based Ashtead Technology (AIM: AT.) has predicted a 25% year-on-year bump in revenues for the first half of 2022.
The subsea specialist, holding its AGM later today, said figures for the “seasonally weaker” H1 are expected to be no less than £31million.
That’s a boost of at least 25% on the same period in 2021, which was still impacted by the Covid pandemic.
Ashtead Techonlogy, headquartered in Westhill just outside of Aberdeen, made its market debut on the AIM in London in November, and recently boosted its headcount form 172 to 204.
EBITA is expected to be higher for the period than the prior year, management said in a statement today.
Chief executive Allan Pirie said: “We are pleased with the financial performance of the Group in the first half of the year.
“The business is well placed to continue benefitting from current market conditions during the second half of 2022 as we also seek to continue our focus on operational excellence, and further capitalise on the fungibility of our industry-leading rental fleet to support both oil and gas and renewables markets.”
Ashtead Technology is expected to release its H1 2022 results in September.
The Aberdeenshire company operates nine regional hubs across North America, the Middle and Far East.