UK North Sea work has boosted proceeds at energy logistics company Peterson Offshore Group. Netherlands based Peterson said yesterday operating profits from its United Kingdom businesses, including Aberdeen-based subsidiaries Peterson UK and 80:20 Procurement Services, grew by 9% last year, to £8.3 million. This is a pretty good rise.
The figure is more than half the group are total operating profits of nearly £16 million, an increase of 33% on the preceding year. Their revenue from the North Sea raised up to £12million to deliver a contribution of £288 to a group-wide figure of £550million.
Peterson said significant growth was seen at its offshore supply bases in Shetland, where it delivered logistics support for big oil and gas projects west of the islands.
The group also said that its operating companies capitalised a further £3.8 million in buildings and apparatus during 2013, comprising on warehousing and offices that are in Aberdeen. About 82,000 square feet of warehouse space and two additional berths at Aberdeen harbor were included to support growth in Peterson’s supply base management services.
New project teams were also recognised to support logistics consultancy activities following contract wins in the Middle East and India. In addition, the group invested in the development of new software in response to growing demand that is going to offer smart solutions and innovations for its customers.