Increase in revenue and EBITDA.
OTAQ, the marine technology products and solutions group for the global aquaculture and offshore oil and gas industries posted its final results for the year ended 31 March.
The London Stock Exchange listed company, which develops SealFence, a deterrent system designed to deter seals and sea lions from salmon farms, had an 18.5 per-cent increase in revenue to GBP 4 million. Up from GBP 3.4 million the year before.
Adjusted EBITDA increased 16.2 per-cent to GBP 0.5 million to from 2020’s GBP 0.4 million.
Aberdeen-based OTAQ acquired ROS Technology last year, which specialises in electronics and mechanical design in multiple industries including aquaculture and offshore.
“Despite the general market backdrop and challenges, this was still an extremely productive period for the Group with positive movement across all of our key financial metric,” said OTAQ non-executive chairman Alex Hambro.
“We are also well funded to continue investing in our product base and to consider any further acquisitions we view as a good fit,” he added.