Scottish oil and gas contracting and service company Global Energy Group said yesterday its turnover had increased by nearly 50% during a busy year.
The Inverness and Aberdeen-based business also announced changes at the top.
Iain MacGregor, one of founder and chairman Roy MacGregor’s sons, has become chief executive.
Global said turnover hadincreased by 46% to £250million in the year to March 2012, while earnings before interest, taxation, amortisation and depreciation were up 25% to £17.2million.
The group’s improved financial performance came in the year it acquired the 238-acre Nigg Energy Park on the Cromarty Firth, where it plans to spend nearly £10million on refits between now and 2016.
Iain MacGregor said the company had also performed strongly in the early months of the current financial year.
He added: “We are now selling £30million of services per month to the industry, which represents a further 45% growth since concluding our 2012 financial statements.
“The Nigg Energy Park has been an important contributor to our increased sales, coupled with strong demand for offshore integrity work in the North Sea. We are also seeing positive growth in our businesses in Australia, Brazil and India.”
Mr MacGregor, who was previously a director with the company before moving into the newly established chief executive role, said Global had also appointed its first chief operating officer.
Albert Allan – currently vice-president of operations at KBR – is returning to the Highlands, having previously worked at Nigg 25 years ago.
Mr Allan said: “The new Nigg is very different to what I once knew and this is testament to the business model that the Global Energy Group has built since starting only seven years ago.
“I will be relocating to be part of an important opportunity for the Highlands and Scotland, and look forward to working with the people who have delivered on the success to date.”
The reshuffle comes after Roy MacGregor and his family sold 25% of Global to Japanese firm Mitsui, which will have two representatives on the board. Global Energy Group employs more than 4,000 people worldwide.
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