ABERDEEN oil service company ATR Group yesterday reported a jump of more than 20% in turnover to £17million in the first full year following a management buy-in.
Pre-tax profits in the 12 months to last October were static at around £400,000 following heavy investment in the business. ATR was acquired by Robert Skidmore and Keith Moorhouse in May 2007.
The group describes itself as a market leader in the rental of specialised tools and equipment.
It has five divisions: ATR Tool Rental, ATR Plant Services, ATR Lifting Services, ATR Engineering and ATR Caspian.
Managing director Mr Moorhouse said the group had built a solid foundation on which to take advantage of, and develop, further opportunities as confidence and investment in the sector grows again.
He added: “We are announcing what are excellent results for our first year, however, like everyone else in the marketplace, that is tempered by the change in circumstances which hit global business in late 2008 and throughout 2009.
“Throughout this period, our strategy has remained constant, which is to maintain our market-leading position throughout the UK continental shelf and Caspian, while preparing for growth across existing and new sectors.”