Technics Oil and Gas, the integrator of compression systems and process modules for the global offshore oil and gas sector, registered 11% growth in earnings to $17.8 million for the nine months ended 30 June 2012 (9MFY2012) from a year ago.
Group revenue increased 21% to $124.7 million in 9MFY2012 compared to $103.0 million in 9MFY2011.
Gross profit grew 28% to $50.4 million in 9MFY2012 in line with higher revenue while gross profit margin improved to 40.4% in 9MFY2012 (9MFY2011: 38.1%).
For the three months ended 30 June 2012 (3QFY2012), earnings increased by 1% to $7.53 million from $7.47 million a year ago although revenue dipped 14% to $39.5 million from $45.7 million a year ago.
As of today, the group has an outstanding order book of $85 million and this will be progressively delivered through to 1H FY2013.
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