Sparrows Group has declared several major contracts totalling more than £190million.

The Aberdeen head-quartered world leader in offshore lifting and mechanical handling services to the oil and gas industry has signed the new deals within the last 90 days. These awards will secure 134 existing jobs on and offshore while 54 new positions have already been created with more expected to follow.

The contracts are with Shell, CNR, ConocoPhillips, Perenco and Wood Group in the North Sea. Sparrows has also signed or renewed agreements to work with BP in Angola and CNR in Gabon and Cote d’Ivoire. The European and African contracts, worth a combined £150million, will be managed from Sparrows operating base in Aberdeen.

The company has also won orders and contracts worth an additional £40 million in the USA, Middle East and Asia.

These new contract wins for 2013 follow excellent provisional results for 2012. Like-for-like revenues were up 10% on 2011 and earnings on these continuing operations were up 19% in the same period, with the increased profitability coming largely from efficiencies and from growth in overseas activities.

Tags: Sparrows Group