Welltec boosts revenue – profitability still pressured

Once a high-growth firm, Danish oil tech company Well tech has gone through a rough patch in recent years but is now showing an improved bottom line. However, the company is still struck by the price squeeze in the industry.

by OLE ANDERSEN

Oil technology company Welltec, which is in the process of moving its headquarters from Denmark to Switzerland, raised its revenue and increased activities in the year's second quarter, shows the H1 interim report published Thursday. The report also shows that the company's net income is still under pressure.

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