Turbine Efficiency Group is today providing a Trading Update ahead of the publication of its audited 2017 Results

- Revenue, Profit (EBITDA) and Cashflow ended the year above forecast, showing significant improvements over the 2016 published results with a return to EBITDA profitability (pre-exceptional costs).

- Completion of new management team appointments and company restructuring

- Aberdeen office opened, Dubai UAE due to open in Q1/2018 and Strategic Acquisition Strategy Defined

Chris Turner, CEO, commented: 

“Following on from the acquisition of Turbine Efficiency by Core Capital Partners in late 2016, the resultant provision of capital and liquidity combined with a completely new board of directors and a restructured management team, has brought real focus back into the business and created a tangible bow-wave of change. The result of this was that the business was able to build on the new foundation and turn the loss of 2016 into a forecast-beating performance in the second half of 2017 which has brought the Group back to an EBITDA profit and moves us into 2018 with a solid order book of business and a will to succeed”.