SALTIRE Energy, the drilling-tool specialist perhaps better known for its sponsorship of golfing hero Paul Lawrie, saw turnover jump 50% last year to £32.9m and operating profit rise 31% to £18.5m.
It is the second successive 50% hike in turnover for Saltire, founded in 1986, which has now more than doubled sales in two years.
Saltire now plans to expand the footprint at its Porthlethen base just outside Aberdeen and to open a further base in Europe. It has increased its workforce from 40 to 52 in the past year and has plans for further growth.
Mike Loggie, chief executive, said: "The last 12 months has seen steady growth in our business in the UK and across our international operations."
He said the Middle East, Africa, Asia Pacific, the UK and North Sea had all contributed to the significant rise in activities.
Around 60% of business was now international and the group's divisions worked with all major operators and drilling contractors globally.
Mr Loggie went on: "Developing our equipment inventory has been a strong focus and last year we invested £10m back into the business, which we have done again in 2013 to extend our suite of industry accredited drilling tools and pipe. This allows us to continue to meet the needs of our clients and fuel further growth."
Saltire Energy has a strong commitment to the community, not only sponsoring Ryder Cup golfer Mr Lawrie but supporting university scholarships, local charity Befriend a Child and the Saltire Sports for Schools initiative to the tune of £500,000 to date, with another £50,000 expected this year. The company is also a major funder of the Aquatics Centre, one of only two Olympic-standard facilities in Scotland, which is set to open in early 2014.
l Global demand for people with the skills needed to develop unconventional oil and gas resources, such as deposits held in shale rock, will increase, according to research by Hays. The recruitment firm also found there was a significant shortage of people with the skills oil and gas companies need in areas like health and safety and subsea engineering for operations in Europe.
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