Gas Turbine Efficiency: a cracking 1st quarter and the share price gets a boost

Hot on the heels of its recent announcement of an agreement to provide gas and steam turbine major outage field services to Tampa-based Entegra Power Group, Gas Turbine Efficiency (LON:GTE), the AIM quoted energy and aviation products and services group, impressed with news of an increase in expected revenue for the first quarter of 2010 sending the shares soaring 28%.

Revenue for Q1 2010 is now expected to be in the range of $9.5m -$10.0m, up 20%-25% over a strong Q1 2009 ($7.4m), with both the Group’s Energy Services Business and Aviation Business both benefiting. Full year results to 31 December 2009 are expected to be announced on 23rd April 2010 when we shall find out more about how the year is progressing. With a recent fund raising successfully completed it’s all looking a lot more promising for GTE.