The Ferguson Group, specialists in the rental of containers, accommodation and engineering modules to the offshore energy industry around the world, has posted its 2008 results, showing turnover up 33% to £31million giving record pre-tax profits of more than £12.6million.
Commenting on the Inverurie-based Group's results, Group Managing Director Steven Ferguson said, "2008 was another excellent year of growth for our Group across all our businesses, reflecting the significant investments we have made in our rental fleets worldwide, ensuring that our clients continue to have the quality and quantity of equipment that they require."
Ferguson said, "We have put a lot of effort into expanding our global operations in recent years and are gaining significant benefits from our management teams' broad experience in international business. The success of this strategy has resulted in the proportion of Group revenues derived from overseas sources growing to more than 50%."
The Group is investing more than £60million across operations in 2008-2011 and continued to focus heavily in expanding activity at overseas locations during the year, opening a base in Darwin in the Northern Territory of Australia, complimenting its existing bases in Perth and Dampier in Western Australia. Since the end of 2008, the Group has started a company in Singapore and invested in a dedicated Business Development Manager, based in Dubai, to cover the Middle East area.
Looking ahead to the rest of 2009, Ferguson was confident that the Group would come through the current downturn in good shape to move ahead in future: "We are committed to continuing to develop opportunities to expand our services and this year has already seen the Ferguson Group start a company in Singapore and launch a new business division specializing in accommodation barges. Other plans are in place to further increase our international presence as well as continuing to invest appropriately in our rental fleets."