North aviation services firm PLM Dollar Group, which suffered the loss of one of its pilots in a fatal helicopter crash in the Outer Hebrides in June, has posted a jump in turnover but lower profits.
The Inverness-based company – trading as PDG Helicopters and PDG Aviation – saw turnover rise to nearly £14.2 million during the 12 months to September 30 2017, from £13.64m a year earlier.
However, accounts just lodged at Companies House also show pre-tax profits fell to £2.27m, from £3.21m previously.
PLM Dollar Group is the trading subsidiary of Osprey Aviation Services (UK), an Aberdeen-registered investment company owned by private equity firm Lloyds Development Capital (LDC).
Osprey’s accounts show pre-tax profits of £290,000 for 2016-17, down from £668,000 the year before, on turnover that was up by £434,000 at just under £14.64m.
In its accounts, PLM Dollar Group – led by chief executive Jerry Francis – said its 2016-17 financial performance was “good in what continue to be challenging trading conditions”.
Mr Francis added: “At the end of the year the company owned and operated 16 helicopters.
“The average number of staff (last year) was 76, compared to 80 in the prior year.
“Principal risks and uncertainties include how the company continues to operate and grow in line with projections in an increasingly competitive, cost-focused market and one which is subject to substantial regulation.”
Mr Francis failed to respond to requests for further comment on the figures yesterday.
The current trading year has been overshadowed by the tragedy on June 13, when an AS350 Squirrel helicopter owned by the group crashed into Loch Scadavay, North Uist.
Air Accident Investigation Branch experts are still investigating the accident, in which father-of-two Peter Clunas, 59, a PDG Aviation Services pilot from Newburgh in Aberdeenshire, was killed.