Flexlife has demonstrated enhanced business growth in its annual results for the year ending 31 March 2014.
This includes an increase in headline EBITDA to £1.034m and a 5% increase in like-for-like group turnover to £14.9m, marking the company’s highest revenue and profit to date.
Aberdeen-based Flexlife, which launched seven years ago, is widely recognised throughout the industry for its expertise and excellence in the integrity and engineering of flexible risers and flowlines. The company’s latest financial results have been driven by an increase in positive cash generation from global operating activities and a 50% increase in client numbers.
Flexlife CEO Ciaran O’Donnell said: “Last year we recorded our highest revenue and profit figures to date, marking an improvement on previous years. In our current financial year we will feel the affect of the well- documented challenges facing the oil industry, but we continue to work on gaining more of the global integrity management market share.”