EQTEC results lift share price

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EQTEC results lift share price

The price of shares in AIM-listed waste-to-power technology firm EQTEC (LON:EQT) climbed by 3.70% to 0.56p (as of 15:05 BST) after losses for the year ended 31st December narrowed substantially. Revenues for the period dropped by 27%, but contracted revenues for the first quarter of the current year exceeded the entirety of 2019 and management said that they had been able to transition staff to working from home with only a minor loss of efficiency.

CEO David Palumbo commented: “The Group has entered 2020 with positive momentum and demand for our services is increasing. The waste to value market is forecast to grow significantly over the next three years. Whilst March 2020 was challenging for the Group operationally, as we transitioned to remote working, our team rose to the challenge and is adapting well to new working routines. The business continues to press ahead throughout this disruption and we are heartened by the level of new enquiries from existing and new geographies in relation to our Advanced Gasification Technology“.

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