A Laurencekirk fire safety firm is back on track for growth and adding new staff as it has won millions in new contracts in the renewables and mining industries.
Blaze Manufacturing Solutions is also seeing some signs of life in its core North Sea oil and gas business, which the firm says it is ready to capitalise on after taking a decision not to cut any jobs during the downturn.
Finance director Ann Johnson admits its most recent financial year was “spectacularly bad”, as turnover dropped almost 80% to £3.8million in the year ended March 2016. The company also saw 2015 pre-tax profits of £764,781 turn to a £1million loss as operators retrenched into “survival mode” and cut capital and operational spend.
Ms Johnson, who set up the firm with her husband and the firm’s managing director Howard Johnson in 2006, said the firm ignored advice to cut its 29-strong workforce.
Instead, the business’s engineers used the downtime to undertake research and development (R&D). In addition to having registered a new patent – with two further in the pipeline – the company is poised to move on new contracts in the North Sea, Belgium, Azerbaijan and even a contract with a mining firm in the Democratic Republic of the Congo (DRC).
Ms Johnson said the decision to keep staff was led by Blaze’s family-owned ethos.
She said: “If you have got investors they say get rid of jobs. We were advised to do that. But we said no – these are really good people. We are not waiting for oil and gas to come back, we are out there hunting diversification.
“When you are looking at your cash flow going down you have to be brave.
“We were criticised by some, but now they are saying that was a great plan.
“We saw all our competition getting rid of their people.
“It was a gamble, but it paid off.
“We have just won two orders in the renewables sector, one in Antwerp and one here worth £2.65million.
“We have won about £250,000 from the North Sea operators – they are just starting to pick up. Stuff is starting to break.
“Our competition hasn’t got anybody any more, they let them all go.
“We are ready in six hour notice to go offshore. We have always been able to do that.”
She added: “I’m terrified but this might also be the most phenomenal year we have ever had.”
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