North-east energy service firm SeaEnergy said yesterday it was confident of growth in the coming months despite widening losses.
Aberdeen business Return to Scene (R2S) – acquired earlier this year – was already contributing revenue and profits to the wider group, it added.
R2S analyses offshore installations and also plays a vital role in police investigations through its work studying crime scenes.
Westhill-based SeaEnergy also said it was attracting interest in its offshore windfarm operations and maintenance vessels.
The company reported operating losses of £1.8million in the first half of 2012, up from £1.5million in the same period last year.
Pre-tax losses were £1.8million in the latest period, compared with £1.2million previously.
SeaEnergy has changed its strategy recently to focus on acquiring profitable service companies, developing businesses and designing and operating support vessels for the North Sea’s offshore windpower industry.
Chairman David Sigsworth said: “The first half of 2012 has seen the business build on some excellent foundations. With the new strategy in place, the company has grown and we are now in a strong position for the future.
“The business has developed its capabilities as an energy service company through the acquisition of R2S, the launch of a consultancy business, increased interest in our offshore windfarm operations and maintenance vessels, and has strengthened the senior executive team.
“With all these in place, SeaEnergy is clearly delivering on its defined strategy and we look forward to announcing further growth in the months to come.”
Irish oil and gas explorer Lansdowne Oil and Gas – 21.48% owned by SeaEnergy – also posted results yesterday.
It reported pre-tax losses of £620,000 for the first six months of 2012, compared with £429,000 in the same period last year.
The company had success earlier this year after estimates of oil in place on the Barryroe discovery offshore Ireland – operated by Providence Resources and 20% owned by Lansdowne – were increased to more than 1billion barrels.
More recently, the firm raised £10million through a share placing.
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