Oilwell expert in black again

RESULTS for oilwell construction technology business Caledus released yesterday revealed it moved back into the black during 2010.

The Portlethen-based firm made pre-tax profits of £215,210, compared with losses of £149,000 in 2009.

Turnover grew to £9.49million last year, from £8.44million.

In the annual report, released by Companies House, Caledus said it had access to a much larger sales distribution network for its goods and services after its acquisition by Dubai-based Tercel Oilfield Products in April last year. It added: “2011 is showing encouraging signs of continued growth.”