Craig International reported an increase in turnover and a “welcome return” to profit as it continues to bounce back from the effects of Covid-pandemic.
The Aberdeen-based global procurement specialists to the energy industry reached a turnover of £116m in its accounts for the year ending April 2022, a 17% increase in turnover.
This was compared to £99m in April 2021, a financial year “severely impacted by the pandemic”.
The accounts lodged by Craig Group, the holding company for Craig International and its subsidiaries around the world, also reveal operating profits of £1.08m.
Pre-tax profits was £997,162 compared to a £63,408 loss the previous year.
‘Bounced back’
Craig Group chairman Douglas Craig, said: “As anticipated, we bounced back quickly from the previous Covid-hit financial year and are on track to deliver another strong year with increased activity across Europe, the US, South Africa and the Middle-east.
“Our market-leading position and reputation have enabled us not only to retain and grow existing business but also to win new business in all our locations around the world.
“Our approach, through a suite of sustainable and technology-driven procurement platforms, have been major factors in recent business wins, underlining the growing recognition in the industry of the major role procurement can play in reducing carbon emissions.”
Last year, Craig International reported extending its reach in the Middle-east from operations in Oman, Dubai, Qatar.
This financial year, the procurement specialists are exploring opportunities in Australia and South-east Asia to further extend their global footprint.
World-wide presence
With nearly 130 staff, Craig International has a global network of pre-qualified suppliers and more than 80 procurement specialists in eight countries.
The firm has bases in the UK, South Africa, Canada, Qatar, Oman, the United Arab Emirates, Germany and the US.
Its digital platform ebuy is an online procurement catalogue introduced to the oil and gas industry more than 10 years ago.
Craig International’s ecobuy service was launched in 2019 at the Offshore Europe oil and gas show in Aberdeen.
It is focused on oilfield products and services that reduce the energy industry’s carbon footprint.