Technics Oil and Gas posts 36% fall in 4Q net profit to $2.6m

Technics Oil and Gas, the full service integrator of compression systems and process modules, says it achieved a net profit of $2.6 million for the three months ended 30 September 2011 (4QFY2011), 36% down from the $4.1 million recorded in the corresponding quarter a year ago (4QFY2010).'
Revenue for 4Q fell 12% to $21 million from $23.7 million.

Technics Oil and Gas says with a sizeable order book, current yard schedules and the expected completion of the group’s enhanced yard space and new in-house facilities in early next year, the group will remain profitable for FY2012.