Thalassa invests to grow
Shares in seismic data company Thalassa jumped on Friday after it said it was investing in new equipment to cope with high demand.
Shares in seismic data company Thalassa jumped on Friday after it said it was investing in new equipment to cope with high demand.
The firm said that in the year to date it had secured $15m of contracted revenues but further growth was being constrained by lack of hardware.
The company is buying two compressor units to go alongside its portable modular source systems, which are used to collect data for petroleum exploration and production.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
"The investment in the two compressor units will expand the group's ability to meet the increased level of interest in its services," it said.
The compressor units, which usually cost around $2m each when new, were being purchased out of internally generated cash, Thalassa said.
It added that the purchase price which was less than half of the cost of a single new unit.
Shares rose 16% following the announcement.
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
‘Inheritance tax insurance’ enquiries are soaring – but is it worth it?
Premiums for whole of life insurance can run to £5,000 a month to cover a £300,000 inheritance tax bill, with policies costing more the older you take them out.
-
MPs warn over Lifetime ISAs which could leave savers out of pocket
The Treasury Committee has highlighted confusion around the Lifetime ISA withdrawal charge, which risks consumers losing “a significant part of their savings”