Profits have soared at group of small firms belonging to multimillionaire Ian Suttie.
Turnover has increased by 25% to £18.6million at First Tech, which is made up of eight businesses controlled by the oil and gas tycoon.
Profit before tax has increased by 83% to £2.4million.
“This has been another successful year,” a spokesman for the group said.
The group consists of First Construction, First Inn, First Marine Solutions, First Subsea, First Whisky, Mooring Systems, Nautricity and its subsidiary, Argyll Tidal.
“First Marine Solutions continues to build upon its position as a leading provider of rental equipment to the oil and gas industry, with the company having invested a further £4.1million into capital equipment during the current year, and further significant investments having been made post year end,” the spokesman said.
“First Subsea and Mooring Systems have consolidated their positions as market leaders in their respective fields, and are well placed to capitalise on worldwide opportunities in the oil and gas markets.
“Nautricity has continued development of its tidal device, with a further £3million invested into this development during the year. Nautricity’s wholly owned subsidiary, Argyll Tidal, is in the process of securing a marine lease covering a tidal hot spot off The Mull of Kintyre.
“Environmental studies and detailed engineering planning are under way, together with the construction of an electrical link to the UK grid. First power from the site is targeted for 2015.
“This will be the first, next generation, tidal technology to be deployed on a commercial tidal site.”
Publicity-shy Mr Suttie was ranked 12th in Scotland in the most recent Sunday Times Rich List with an estimated personal wealth of £450million.
The 67-year-old is a director of several companies. His business interests include First Oil, which describes itself as the largest private, UK-owned company producing oil and gas in the North Sea.
He is expected to receive a multimillion-pound return from a North Sea oil find part-owned by another of his companies, First Oil and Gas.
The business has a stake in the Kraken development, estimated to have recoverable reserves of 160million barrels.
He also has plans to create a £50million urban village at Broadford Works in Aberdeen through First Construction.
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