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High costs hit Vroon profits

High costs hit Vroon profits
Improved charter rates and increased demand drove a 3% rise in turnover at Vroon Offshore Services in 2011, the Aberdeen firm said.

Improved charter rates and increased demand drove a 3% rise in turnover at Vroon Offshore Services in 2011, the Aberdeen firm said.

Vroon, whose ships provide emergency-response and rescue services in the North Sea, saw turnover increase to £33.57million last year.

But pre-tax profits fell by 12% to £4.96million and operating profits slid 1% to £6.33million after the firm was hit by higher costs, mainly for its fuel and crew expenses.

A directors’ report alongside annual figures released by Companies House yesterday said the firm’s outlook for 2013 and beyond was good.

Vroon’s best-paid director earned emoluments totalling £253,000 last year, compared with £306,000 in 2010.

The company is owned by Netherlands-based Vroon Offshore.

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