Calendar An icon of a desk calendar. Cancel An icon of a circle with a diagonal line across. Caret An icon of a block arrow pointing to the right. Email An icon of a paper envelope. Facebook An icon of the Facebook "f" mark. Google An icon of the Google "G" mark. Linked In An icon of the Linked In "in" mark. Logout An icon representing logout. Profile An icon that resembles human head and shoulders. Telephone An icon of a traditional telephone receiver. Tick An icon of a tick mark. Is Public An icon of a human eye and eyelashes. Is Not Public An icon of a human eye and eyelashes with a diagonal line through it. Pause Icon A two-lined pause icon for stopping interactions. Quote Mark A opening quote mark. Quote Mark A closing quote mark. Arrow An icon of an arrow. Folder An icon of a paper folder. Breaking An icon of an exclamation mark on a circular background. Camera An icon of a digital camera. Caret An icon of a caret arrow. Clock An icon of a clock face. Close An icon of the an X shape. Close Icon An icon used to represent where to interact to collapse or dismiss a component Comment An icon of a speech bubble. Comments An icon of a speech bubble, denoting user comments. Ellipsis An icon of 3 horizontal dots. Envelope An icon of a paper envelope. Facebook An icon of a facebook f logo. Camera An icon of a digital camera. Home An icon of a house. Instagram An icon of the Instagram logo. LinkedIn An icon of the LinkedIn logo. Magnifying Glass An icon of a magnifying glass. Search Icon A magnifying glass icon that is used to represent the function of searching. Menu An icon of 3 horizontal lines. Hamburger Menu Icon An icon used to represent a collapsed menu. Next An icon of an arrow pointing to the right. Notice An explanation mark centred inside a circle. Previous An icon of an arrow pointing to the left. Rating An icon of a star. Tag An icon of a tag. Twitter An icon of the Twitter logo. Video Camera An icon of a video camera shape. Speech Bubble Icon A icon displaying a speech bubble WhatsApp An icon of the WhatsApp logo. Information An icon of an information logo. Plus A mathematical 'plus' symbol. Duration An icon indicating Time. Success Tick An icon of a green tick. Success Tick Timeout An icon of a greyed out success tick. Loading Spinner An icon of a loading spinner.

Craig International bouncing back from Covid blow

Active all over the world, Craig International is the main trading subsidiary of Aberdeen-based Craig Group.
Active all over the world, Craig International is the main trading subsidiary of Aberdeen-based Craig Group.

New contracts worth £35 million are helping Aberdeen firm Craig International bounce back after a Covid-hit year of losses.

The deals were secured in the final quarter of 2021 and the global energy industry procurement specialist has reported strong growth expectations for 2022 and beyond.

It comes as accounts for holding company Craig Group show the impact of the coronavirus pandemic on Craig International and its subsidiaries around the world.

Our robust financial position and market-leading reputation have enabled us to weather the storm.”

Douglas Craig, chairman, Craig Group.

Turnover fell to £99m during the 12 months to April 20 2021, from about £136m a year earlier.

The accounts also show a slightly better than break-even position in the latest period, with total operating profits coming in at £15,000 – down from around £766,00 previously.

But losses incurred by unfavourable foreign currency exchange during 2020-21 led to pre-tax losses of £63,408, against profits of about £660,000 the year before.

Craig Group’s latest annual figures also include those of a subsidiary, Grampian Golf and Leisure Associates, which owns the Kings Links golf driving range and superstore in Aberdeen.

Middle East accounts for lion’s share of wins

Craig International said its new long-term contracts for third-party procurement services were with new and existing clients in the UK, South Africa and US, with a major share in the Middle East.

Group owner and chairman Douglas Craig, 72, said: “Despite the disruption caused by the global pandemic during the last two years, Craig International has performed well.

“Our robust financial position and market-leading reputation have enabled us to weather the storm.

“As activity picks up, we are winning new contracts which will see us bounce back and deliver strong growth in 2022 and beyond.”

Douglas Craig.

Mr Craig, whose grandfather, trawlerman George Craig, founded the business in 1933, added: “Our global reach has extended, with an operational base in Oman and significant growth in Dubai and Qatar.

“In North America, we are expanding in Calgary and Houston to service our rapidly-growing local market share.

“And in Cape Town (South Africa) we’ve welcomed a raft of new clients.

“By adapting to the changing energy landscape and updating our award-winning digital procurement platform, e-Buy, we are continually driving increased efficiencies for our clients.

“Environmental responsibility is top of our agenda and our sustainable product offering through our innovative Eco Buy platform, is meeting the demand for responsible and sustainable procurement.”

Global footprint

With nearly 130 staff, Craig International has a global network of pre-qualified suppliers and more than 80 procurement specialists in eight countries.

The firm has bases in the UK, South Africa, Canada, Qatar, Oman, the United Arab Emirates, Germany and the US.

Its digital platform ebuy is an online procurement catalogue introduced to the oil and gas industry more than 10 years ago.

Craig International’s ecobuy service was launched in 2019 at the Offshore Europe oil and gas show in Aberdeen.

It is focused on oilfield products and services that reduce the energy industry’s carbon footprint.

In the holding company accounts, Craig Group said supply chains were “still under strain” and it was working with key suppliers to ensure the availability of raw materials.

Already a subscriber? Sign in

[[title]]

[[text]]