International Tubular Services, a division of Aberdeen-based international oil services firm ITS Group, has reported a slight drop in profits.
The pre-tax surplus for 2011 came in at just over £3million, down from £3.14million the year before. But turnover was up slightly during the latest period, to £13.28million.
The figures, released by Companies House, come just days after ITS Group announced big increases in turnover and profits following an improvement in market conditions.
Turnover last year rose by 22% to £101.1million, while earnings before interest, taxation, depreciation and amortisation were up by 28% at £26.6million.
ITS Group provides drilling equipment and services through a network of 29 facilities in 18 countries.