North Sea helicopter firm CHC doubled profits in its latest financial year.
CHC Scotia, which runs 29 helicopters for UK the oil and gas industry, saw pre-tax profits rise to £6.7million in the year ended 30 April, up from from £3.3million in the prior year.
The firm said the improvement in its business was due to contract wins and renewals as well as “enhanced efficiency”.
CHC said it had cut 18 jobs at its UK business in October.
According to accounts filed at Companies House for CHC Scotia, the number of employees actually fell from 473 in 2014 to 429 at the end of April last year.
At the start of the month, the firm’s Canada-based parent company, CHC Group, revealed it was set to be de-listed from the New York Stock exchange because its market value fell below the $15million threshold.
The UK division increased profits despite a 5% drop in turnover to £171.7million.
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