Industrial cleaning and environmental waste management specialist, the MSIS Group, is looking to the future with confidence after enjoying an extremely successful year in 2010, with the Group recording a 23% increase in turnover.

More impressively the Group’s EBITDA (earnings before interest, taxation, depreciation and amortisation) rose 70% to £1.15m, reflecting the benefit of higher sales and improved equipment utilisation levels.

The Group’s overall turnover increased from £5.25million to £6.5million during the period, with each of MSIS’ three divisions, Onshore, Offshore and Equipment Sales and Rental, playing a key role in the growth of the business.

Throughout the year, the Group’s Onshore arm benefitted from improved market conditions within its key sectors – including the distilling industry – as well as the addition of a new civil engineering section, which enabled it to expand its range of services. MSIS' operations base in Invergordon has undergone significant expansion to support the enhanced level of services now offered.

The Offshore division enjoyed high levels of demand for its specialist cleaning services in the UK, as well as in West Africa, after the Group expanded its international presence with the establishment of a subsidiary in Ghana, in 2010. The Group set up MSIS West Africa – with local company RDFC – to capitalise on the developing oil and gas industry in the region, and its Offshore division has already secured a number of significant cleaning projects in the region.

Capping a trio of strong performances from the divisions, the Group’s Equipment Sales and Rental arm also enjoyed a bright year, with its total sales exceeding £1million for the first time.

During the year, the Group invested more than £600,000 in new equipment and the upgrading of its rental fleet of specialist clean up equipment highlighting the emphasis MSIS places on continuing to provide services and products of the highest standard and quality.

The Group is keen to ensure it capitalises on momentum gained recently, with plans being put in place to further develop the business in 2011 and beyond.

In particular, MSIS is keen to further expand its range of products and services and is actively looking to enter the key international markets of Brazil and Norway, which both present major opportunities for the Group.

Chris Lloyd, Chairman of the MSIS Group, says that a number of factors helped achieve the growth in performance, including the quality of products and services the Group delivers, the pride which its employees place on performance, and the exceptional health and safety standards to which it operates.

He said: “It’s important for our employees to see that their hard work is responsible for the strong level of improvement in performance.

“It’s particularly pleasing to see the Group do well across the board, with each of our three divisions performing extremely positively. We may be a small business but we have shown we are capable of delivering on large projects as well as smaller jobs because of the very personal interest we all take in performing for our customers.

“With the help and advice we receive from Scottish Enterprise and the continuing support of Maven – our main shareholder – we are determined to build upon the growth of 2010.”

Tags: MSIS Group