GLOBAL Energy (Holdings), which has main offices in Aberdeen and Inverness, posted sharply increased sales and profits in the year to March 27, 2009.
Its latest annual report, just released by Companies House, show it made pre-tax profits of £9.37million for the year, up from profits of £5.86million the year before. Turnover for the period was £119million, up 26% on the previous year.
Directors of the family-owned firm, whose chairman Roy MacGregor is a former chairman of Ross County FC, one of Global’s subsidiaries, say in their report that the group has an aggressive strategy of organic expansion and acquisition. They add that the aim is to double current turnover within the next three years.
Directors also say that during the year the group was reorganised into six business streams – subsea, offshore, power and process, renewables and utilities, supply chain and resources.
Looking to the future, the directors say they are committed to growing the business and will continue to internationalise operations.
They say this will include joint venture agreements with shipyards in Cameroon and Namibia to build a presence in inspection, repair and maintenance in West Africa and other areas.