An Aberdeen shipping and energy services company has seen its turnover rise by more than £11 million in the year, helping boost operating profits by £1.7 million in the same period.
Craig Group, which supplies support and supply services to the oilfields in the North Sea, has been boosted by the continuing vibrancy of the energy market. Speaking about the results, taken to April 2012, the group’s MD Douglas Craig said:
“We are pleased to report healthy results across all three divisions for 2011/2012.”
The firm comprises three groups operating in key areas.
Its North Star Shipping division saw turnover increase to £80.3 million, up 9.7 per cent in the period. The year also saw the addition of four new fleet vessels, while 100 new jobs were created.
Meanwhile, the firm’s oilfield procurement division, Craig International Supplies (CIS), saw turnover move up to £37.6 million, a 10.3 per cent increase. Craig also said there were plans for further expansion:
“We are particularly excited by the potential of CIS’ global strategy, which will see the procurement division moving into new markets including West Africa, Central Europe and Australia over the next year.”
In the last nine years, the firm has injected £215 million to modernise its core business and assets. It is a trend which other firms in Scotland have followed too, many with the help of factoring facilities.
For Craig Group, the future looks very bright, boosted by the diversity of its operations – its third division is in the leisure market – allowing for wide ranging opportunities to be taken.