Aberdeen oil and gas firm hails 12% hike in revenue
ICR INTEGRITY, the Aberdeen-based oil and defence industries services provider, has lifted revenue by 12 per cent to £31 million in a year in which it expanded operations in the Middle East and the US.
Underlying earnings before interest, taxes and amortisation (Ebitda) was £8.8m against £8.7m the year before after £1.1m investment in global operations, it said.
The company’s expansion activity in the Middle East and US included investing in its international infrastructure and global headcount which grew from 184 to 200.
The firm recently announced over £1m of project awards in the Middle East and the appointment of a new head of sales to support the continued expansion in the region.
A key appointment to lead Norway’s operations has also been made along with expansion in ICR’s North England base to develop its wider offering in addition to core mechanical on-site services.
ICR acquired Middlesex-based Sky Futures in May last year, which it described as a leading international provider of drone-based inspections and pilot training for the energy, telecommunications, industrial and government sectors, as part of its continued focus on growing its global footprint during and client offering.
Willie Rennie, ICR Integrity chief executive, said: “The group’s annual results reflect the continued investment in our international expansion and commitment to support our clients’ requirements.
“With a focus on ensuring downtime and costs are minimised with safety being at the heart of all we do, our technology and offering continues to provide key sectors around the world with integrity and maintenance solutions.”
He also said: “Our annual results represent positive performance with the underlying focus on investment and global expansion.
“We are delighted to move into 2020 with solid foundations for sustained growth.”
Source: heraldscotland.com
Published: 09-02-2020
