ROMAR Boosts Turnover during Successful 2012
Scottish oilfield services business ROMAR International announced Friday that it boosted turnover to GBP 4 million in 2012 from GBP 2.5 million in 2011.
ROMAR – which specialises in magnetic separation products and services for offshore oil and gas – said the growth came on the back of a successful year for the company in which it secured a multimillion pound contract extension with French major Total. ROMAR aims to increase revenue by 25 percent over the next 12 months.
In 2012, ROMAR entered into agreements with US agent Deepwater Rental & Supply, (valued at GBP 945,000) and global agent STEP Oiltools (valued at GBP 650,000). STEP Oiltools promote ROMAR's range of magnetic separation products within South East Asia, a key region for ROMAR.
ROMAR Commercial Director Robbie Gray commented in a company statement:
"2012 has been ROMAR’s most successful year to date; we achieved profits which were 25 percent ahead of our business plan. Our continued growth reflects our dedication to the standard of products we provide our clients and the commitment of our staff.
"We outlined a plan of ambitious growth for 2012, and have stuck to it with key service contract extensions and revenue from our agent agreements.
"Our staff numbers have risen from 15 to 20 this year and we plan to expand this by a further five to six in the coming months. In December last year, we appointed an international business development manager to focus on business opportunities in the Middle East, North Africa and India; this is in line with our on-going strategy for international development."
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