Increased turnover and a return to profitability are just the start of an upward growth curve at underwater technology firm MacArtney UK, according to its boss.
Managing director David Buchan said he was confident turnover would reach £10million in the current financial year, while £13million was a realistic goal for 2018-19.
Looking further ahead, he said his “personal target” was to get the UK business back to past peak turnover of more than £18million as quickly as possible. “I think we will be back there by 2021,” he added.
Like most firms in the Scottish oil and gas industry and its supply chain, family-owned MacArtney has been through a lean few years.
Mr Buchan has been with the company, which is celebrating its 40th anniversary, for more than 20 years.
“I’ve seen a few downturns but this one has lasted longer than most,” he said, adding: “Thankfully, all the excesses have gone. Everybody will be more realistic in future.”
MacArtney’s UK division employs about 45 people at offices in Dyce. Globally, the Denmark-based group has a workforce numbering more than 350 people across the headquarters in Esjberg and operations in Aberdeen, the US, Norway, the Netherlands, France, Germany and Singapore.
The Aberdeen team is growing again and Mr Buchan said he wanted to bring in people who “will stay with us for a long time”.
MacArtney UK’s accounts for the 12 months to September 30, 2017, show pre-tax profits of £37,480, against losses of more than £660,000 in 2015-16, with turnover up by more than £1.2million at £7.2million.
