SCAFFOLDING and painting services group Pyeroy increased sales last year as it won more business in the growing UK offshore oil and gas sector.
The Gateshead firm reported that turnover rose to by more than £14m to £74m in 2011, although its pre-tax profit dipped from £3.5m last year to £2.9m.
The company has been involved in projects such as the painting of the Forth Rail Bridge, and has operated in a range of sectors from marine to highways, railways, renewables, utilities and the chemical and process industries.
Pyeroy said it had a healthy forward order book of more than £135m, up from a reported £120m last year.
It added that there had been significant growth in work from the onshore and offshore sectors, including the provision of access systems to companies like Heerema Fabrication Group.
Managing director Hugh Pelham said: “Despite the continuing economic pressures, this is a great set of results that reflects how well we are meeting the needs of our customers.
“It enables us to focus on delivering quality, which is what’s required when you want to work for the likes of Network Rail, Babcock Marine and BAE Systems, and is seeing us emerge strongly from the some of the worst trading conditions for decades.”
Pyeroy started life as a protective coatings contracting firm in 1973, but added new strings to its bow when a number of North East shipyards closed during the mid-90s.
It now employs around 1,200 staff in offices around the UK and Ireland. It is working on a range of multi-million- pound contracts, such as providing bespoke access units for the construction of a compression module for Teesside’s Wilton Engineering Services. It is also helping to re-fit several Royal Navy vessels such as HMS Northumberland and HMS Torbay, as well as removing and disposing of asbestos in the Arabian Gulf.
Its continuing projects include the £150m contract for painting and access services on the Royal Navy’s new aircraft carriers, while it finished work on Tower Bridge and the Forth Rail Bridge in 2011.
Pyeroy recently opened offices in Aberdeen and Great Yarmouth to accommodate demand for its services. The company also provides electrical engineering support, as well as industrial cleaning and installation of insulation.
Pelham said: “Looking forward, we are now well-placed to see continuing strong growth across all areas of the business through our strategy of added value, further cementing our position as a market leader.”
Via: nebusiness.co.uk
