Saltire Energy has posted its annual results (year end to June 30, 2012) with turnover up nearly 50% from £15million to £21.5million.

Profit for the year before exceptional items grew from £7.7million to £10.7million.

Commenting on the Aberdeen-based group’s results, Chief Executive Mike Loggie said: “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 £10million 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.’’

Around 60% of business is now international and the group’s divisions work with all major operators and drilling contractors globally. It has expanded from its headquarters at Portlethen, on the outskirts of Aberdeen, and operates from Europe, the Caspian, the Middle East, Asia Pacific and Africa.

Tags: Saltire Energy