Proserv books £4million loss but hails “considerable financial resources”

Oilfield services group Proserv measured the effects of the oil price downturn as it revealed a slump in revenues and profits in its most recent financial accounts.

The Aberdeen company, which is owned by US private equity firm Riverstone, saw turnover slump 15% to £85.2million in the year to the end of December 2015 in what it said was a “difficult year for the industry”.

In the same period, the pre-tax profits at Proserv UK swung from £6.6million in 2014 into the red – making a loss of £3.9million on 2015.

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