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CGG: stock up after preliminary results

( - GGG's shares are up in early trading in Paris on Monday following the group's release of its preliminary results for Q4 and FY 2021.

The geophysical services and equipment specialist said this morning that it expects its business to report revenues of around 301 million dollars in Q4, up 15% on a proforma basis (excluding GeoSoftware, which is currently being divested) on a sequential basis and 12% year-on-year, again on a proforma basis and excluding GeoSoftware.

For FY 2021, revenue from the business is expected to be around 941 million dollars, the oilfield services group said, adding that it expects net cash flow in 2021 to be positive at around 15 million dollars, excluding cash debt refinancing costs of 40 million dollars.

CGG is set to announce its Q4 and FY 2021 results on 3 March.

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