Drilling equipment sales and rental business Saltire Energy has maintained "consistent" performance in spite of the "unprecedented challenge" of the pandemic.
Tight margins and unrelenting volatility in the oil and gas market put a crimp on Saltire Energy’s profits in 2017-18.
The Scottish Government is set to turn the tide on a previously defunct £10 million marine energy scheme.
Being big doesn’t entitle you to push small companies around, one of the north-east’s top entrepreneurs has said.
The owner of an Aberdeen oil drilling equipment rental firm has pledged to continue investing in the business despite writing £43.2million off the value of its assets.
The boss at Saltire Energy said yesterday the Aberdeenshire oil service firm had handled low crude prices “extremely well” despite a double-digit drop in profits. The Portlethen-based oil drilling equipment rental business ended its last financial year with pre-tax profits of £15.28million, down 13.6% on 2013/14, according to accounts lodged at Companies House. Turnover at Saltire, which is controlled by award-winning entrepreneur Mike Loggie, fell 11.9% to £31.98million for the year ended June 30, 2015.
The chief executive of Portlethen-based Saltire Energy, Mike Loggie, has added another gong to a fast-growing list by winning the entrepreneur of the year title at a business awards event.