Aberdeen firm Craig Group said yesterday progress in each of its divisions boosted operating profits and turnover in the year to April 30.
The shipping and energy service firm added that the buoyancy of the UK oil and gas industry allowed it to invest heavily during the period.
Family-run Craig Group said operating profits had risen by £1.7million to £14.8million, with turnover increasing by some £11.4million to £123.3million.
While the group highlighted a £2.2million increase in earnings before interest, tax, depreciation and amortisation, pre-tax profits were flat at about £15.3million.
Craig Group employs about 1,000 people in global operations run from bases at locations including Aberdeen, Houston and Cape Town.
It has three subsidiaries: North Star Shipping, Craig International Supplies (CIS) and Craig Group Leisure (CGL).
Group managing director Douglas Craig said: “We are pleased to report healthy results across all three divisions for 2011-2012.
“The UK oil and gas sector continues to flourish in what is still very much a fragile economic period and as a result we have been able to invest in vessels, people, premises and services.”
Capital expenditure in the year of £28.4million was mainly invested in the continued modernisation of Craig Group’s shipping fleet, operated by North Star.
Four new vessels have joined the fleet this year, which Craig Group said had created 100 jobs in the marine industry. Mr Craig added: “The total investment of £215million in new vessels since 2003 has given us one of the safest and most modern fleets operating in the North Sea which has helped us secure new business, attract the best maritime skills, improve safety and reduce our impact on the environment.”
North Star saw its turnover increase by 9.7% to £80.3million.
CIS, the group’s oilfield procurement division, grew turnover by 10.3% to £37.6million.
The group gave no figures for CGL, which operates Kings Links Golf Centre, in Aberdeen.
Mr Craig said the group was particularly excited by the potential of CIS’s global strategy, which would see it move into new markets including west Africa, central Europe and Australia over the next year.
Craig Group said its donations to charities and other good causes totalled £375,000 in the period.
Accounts from Companies House showed the group paid dividends totalling £70,000 and the highest paid director earned emoluments of £424,000, up from £374,000 the year before.
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