Offshore Equipment Rental Specialist Announces 2013 Results - Offshore Technology | Oil and Gas News and Market Analysis
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Offshore Equipment Rental Specialist Announces 2013 Results

The Ferguson Group, global specialists in the provision of offshore DNV 2.7-1/EN12079 containers and accommodation solutions, has posted its 2013 results, which show continuing growth, with worldwide sales increasing by more than 12% to £65m and pre-tax profits up 28% from £16.2m in 2012 to £20.8m in 2013.

Commenting on the results, Ferguson Group finance director Richard Smith said: "2013 was another year of progressive growth for the Ferguson Group, which saw the company increase earnings whilst continuing to invest heavily in our operational capability and prime the company for continued expansion.

"We invested around £15m during 2013 and plan to spend significantly more in 2014. Development work is almost complete on our new Gap Ridge operating base in north-west Australia and we will commence operations from there shortly.

"We invested around £15m during 2013 and plan to spend significantly more in 2014."

"During the year we strengthened our board with the appointment of David Mitchell as operations director and Julian Poyner as engineering director, and we now employ 220 people worldwide, an increase of around 40% on two years ago.

"Revenues from outside Europe continue to be a significant part of our business and grew by 19% year-on-year to £31m and I am pleased to say that we continue to feature in the Sunday Times International Track 200 league table of UK private companies with fastest growing international sales.

"Our growth strategy relies on the quality of our equipment and our people, and we will continue to put resources into those regions where our customers are at their busiest and where they require access to our comprehensive and growing fleet of DNV 2.7-1/EN 12079 certified containers, tanks, baskets, accommodation and workspace modules."

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