Welltec maintains strong growth

Welltec continues to grow on revenue as well as profits, though not at the same pace in the 3rd quarter as in the record-high 2nd quarter for the oil service company.

Photo: Copyright Welltec®

Danish oil service company Welltec managed to keep revenue as well as profits growing in the 3rd quarter this year, which comes on the heels of the company's best quarter yet, the 2nd quarter 2014.

Revenue increased 15 percent in the 3rd quarter, to USD 89 million, and the operating profit grew to USD 24 million, from USD 14 million in the same period last year. In light of these results, Welltec upgrades its full-year expectations slightly compared to previous announcements. The expected revenue remains fixed at USD 350 million, while the company's profit forecast has been raised to USD 155 million from USD 150 million before.

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