Aberdeen-based explosives specialist Spex Services said yesterday it expected a strong performance this year after a jump in turnover.
The figure hit £7.5million in 2011, compared with £2.1million the year before, and the company said it had also doubled its workforce to 50.
Spex, formed in 2009, said the acquisition of Aberdeen-based niche engineering business Third Party Services, which it took over for an undisclosed sum last year, had played a key role in its success. Managing director John Fox said: “The last six months have been extremely positive for Spex Services and we are thrilled to kick off 2012 with the recording of such a major turnover increase.
“A variety of factors played a role in our growth last year, including an expansion of our new product development services, but our success is, in particular, testament to the talent and expertise of our rapidly growing team.
“We’re gearing up for an equally exciting 2012, in which we aim to further cement our position as the leader in specialist explosive services.”