Saltire Energy Boosts Revenues by 43%

Scottish equipment supplier Saltire Energy announced Friday a 43-percent increase in its turnover for its 2012 financial year to GBP 21.5 million.

Reporting its annual results Aberdeen-based Saltire – which supplies drilling tools to the offshore oil and gas sector – said that its profit for 2012 (before exceptional items) increased 39 percent to GBP 10.7 million.

The firm said that it expects further growth for its 2013 financial year, which ends on June 30, with turnover expected to reach GBP 32 million.

Saltire Chief Executive Mike Loggie commented in a statement:

"The last year has been an exceptional one for Saltire Energy. We expanded our presence in Africa and Norway through the acquisition of some of the assets of OMM, while also increasing levels of business in the Middle East, UK and Europe.

"We invest approximately GBP 10 million per annum back into the business to ensure we continue to expand our inventory and have the best equipment, accredited to the highest of industry standards. By doing this, we maintain the excellent reputation the team has built over the years and keep our customers coming back to us."




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