Growing demand for its services in the Caspian region and Mexico are helping to drive 25% growth at Aberdeen-based electricals group AEL.
Bosses at the company say it is on track for turnover of £12.5 million in the current trading year.
Last year, family owned AEL announced turnover had exceeded £10m for the first time.
It said growth was driven by demand for its electrical and subsea products and services from onshore, offshore, renewable, petrochemical, marine, subsea and other sectors.
Headcount up in overseas locations
In its latest update, AEL said its continued growth was also driving an increase in headcount.
There is now a team of seven serving clients across the Middle East and Caspian region from a branch office in Baku, Azerbaijan.
Meanwhile, payroll numbers at a subsidiary launched in Mexico just a few years ago have mushroomed to 16.
Ensuring diversified growth across multiple markets has been central to our growth in recent times.”
Graeme Mackie, AEL
The company also has offices in the US and Ghana serving North American and African markets respectively.
AEL has repositioned some of its top team in recent years to make the most of its key markets.
Founder Graeme Mackie and his son, Alan, are now joint managing directors. Alan is also president of Houston-based AEL Americas.
Opportunities closer to home too
Mr Mackie Sr said: “Ensuring diversified growth across multiple markets has been central to our growth in recent times.
“Having a refreshed team in place at our global headquarters will be pivotal in fulfilling our future ambitions.”
AEL also has Scandinavia in its sights
The changes are seen as crucial in growing AEL’s reach into England as well as consolidating inroads made into Scandinavian markets, particularly Norway.
Further growth is anticipated after AEL’s agreement as an authorised distributor of Seacon products was extended in Scandinavia, other parts of Europe and the Middle East.
Mr Mackie Jr added: “The US, UK, Middle East and Mexico remain equally important in our global vision.
“Ensuring we have good people in all of these locations remains the keystone in all that we achieve.”
The group took on its 50th employee last year as it pushed ahead with expansion plans.
Caspian base a ‘springboard’
Its long-term presence in Azerbaijan has for some time been seen as a springboard for further growth across the Middle East, including Turkey.
Meanwhile, market research into the potential for further expansion closer to home is expected to pave the way for new business with existing and new customers in the UK.
Conversation