Oil and gas engineering consultant Optimus (Aberdeen) said yesterday it had achieved a solid set of results in the first six months of 2012 despite investing in growth and facing pressure on margins.
The north-east company, which provides oil and gas engineering, safety and project-management services, turned over £4.7million during the period, up 15% from the £4.1million reported 12 months earlier. Optimus said pre-tax profits for the latest period came in at £256,000, 28% down on the £354,000 notched up a year earlier, however, after a significant investment in its future.
The firm boosted its workforce from 70 to 82 during the first half of 2012 and aims to employ 100 people by the year-end.
It recently launched an office in Inverness to tap into the engineering skill base in the Highlands.
Six engineers and support staff were hired for the Inverness office and Optimus expects this to increase to 20 by spring.
Founder and director Ian Bell said: “Building a credible engineering house is not plain sailing but we’re doing exactly what we said we’d do, sacrificing short-term profits to fund long-term growth.”
Fellow director Alasdair Reid said: “Our office in Thailand is beginning to bear fruit and we see expansion there during the second half of 2012 and it really establishing itself in 2013.
“We’re also exploring opportunities in China, Brazil and North Africa.”
Optimus said it was on track to meet its year-end targets for turnover of £11.6million and pre-tax profits of £850,000, compared with £10.5million and £900,000 respectively in 2011.