Oil and gas services firm Can Group has recorded a boost in turnover and pre-tax profits for the year ending December 2013.
The Aberdeen-headquartered firm, which provides engineering, inspection and trade services to the oil and gas sector, posted a 20% increase in pre-tax profits to £18.5million, from £15.4million previously.
This was from a 22% increase in turnover to £89million, compared with £79.2million previously. The group, which employs more than 700 people, said this was largely down to growth in its technical service businesses – Engteq and Venteq – as well as new business in international markets last year.
It said it had also benefited from the growing need for asset integrity management work as operators looked to increase the lifespan of ageing assets.
Director Innes Walker added: “As the oil and gas industry seeks to prolong the life of its ageing assets within strict financial parameters, asset integrity management is a key priority for operators.
“During 2013, we achieved an increase in the turnover and profitability of our technical service divisions and recorded growth in international markets.”
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