Oil services firm International Tubular Services reported a £500,000 drop in pre-tax profits as it confirmed its withdrawal from Kazakhstan.
The firm, which was rescued from administrators in an £83million deal in April, posted its year-end results for 2012 to Companies House.
The figures reflect trading before its parent company, International Tubular Services (iTS) Holdings, collapsed under debts of more than £145million.
The Aberdeen-based company, which also has an office in Great Yarmouth, posted pre-tax profits of £2.5million for the year ending 31 December 2012, down from £3million the year before.
Turnover for the year was up more than 2% to £13.6million, from £13.3million previously.
The firm, which specialises in the rental of tubular equipment, machine shop manufacturing and hard banding for the oil and gas sector, was bought by US firm Parker Drilling Company in April 2013.
In its accounts, the firm said its financial performance reflected ongoing efforts within the business to improve utilisation and margins in an environment adjusting to the pressures and volatility of global economic uncertainty.
The firm will be closing its base in Kazakhstan by the end of the year.
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