The Aberdeen-based Optimus group of energy service companies has suffered further losses after the closure of an office in Thailand.
But its Optimus (Aberdeen) business, operating from offices in the Granite City and Inverness, turned £116,798 pre-tax losses in 2015 into profits of £58,176 last year, despite sales falling by more than one-third to £10million.
The group said the turnaround was driven by measures including staff redundancies, cutting contractor numbers and both salary and contractor rate reductions, as well as reduced inter-company loan write-offs.
Group founder and director Ian Bell said: “Making people redundant in 2016 was a very painful process for me personally.
“The remaining staff followed the directors’ example and took a voluntary salary reduction, and our contractors reduced their rates even further in line with the market.
“Together we have managed to turn things around and the improved performance has continued during 2017.”
Optimus (Aberdeen) employed 46 people on average last year, down from 57 in 2015.
Group losses for 2016 came in at £205,690, against a deficit of £228,895 the year before, after “significant costs” were incurred closing the operation in Thailand.
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