Dynamic Equipment Company (DEC) says it is on a “strong upward sales and profits trajectory” following management reorganisation and significant new investment.
The Aberdeen-based designer and manufacturer of bespoke mechanical handling equipment expects to see sales leap nearly 60% this year to £4.8million, and by almost 70% to just over £8million next year, with 80% of turnover generated by exports.
Managing director, John McCulloch, who joined founding directors Richard Hay and Simon Newberry in 2011, told Energy: “We have established a solid platform for growth. DEC has consolidated existing customer relationships and developed new customers internationally.”
McCulloch attributes the dramatic turnaround at long-established DEC to a sustained focus on growing the organisation.
“Getting the right people involved is paramount to any successful growth strategy. Initially, the task was to strengthen commercial and management processes, allowing the founding directors to focus on the technical excellence upon which the company was built,” he said.
In parallel, McCulloch re-engineered the finances of DEC, addressing legacy cash flow issues that had previously beset the business by directly investing in the company and securing additional working capital facilities.
DEC has continued to recruit experienced management and personnel across the business with the team now 40 strong.
John Dickson joined in September as operations director, having previously held senior management positions with Petrofac, Wood Group and ABB Vetco.
Also late last year, Paul Slater was appointed as finance director having had more than 25 years’ experience of project and corporate finance within a multinational environment.
“John and Paul have direct experience of the international oil and gas market and are key to capitalising on DEC’s recent successes”, said McCulloch.
“We are still in the market for a senior sales director to further develop our export growth opportunities”, he added.
The change in fortunes at DEC provides job security in the immediate future for its 40 employees, mostly based in Aberdeen, and the company has recently moved its engineering, administration and management staff into new premises in the city.
“This is a good business with a secure future,” said McCulloch. “The prognosis for exploration and recovery is strong and our aim is to position DEC to be an enduring part of that future.”
Recommended for you
