RBG profits up in oil services industry boom

Published on Sunday 15 November 2009 21:14

RBG, the Aberdeen oil services company, saw a major boost in demand last year as commodities hit an all-time high, its latest accounts show.

The company, headquartered in Dyce – which provides "life of field" services for the oil and gas industry – reported a 17 per cent increase in turnover last year, to 291.8 million.

Oil service groups across the world have reported record results for 2008 after crude oil hit an all-time high of $147 a barrel last July.

Operating profits at RBG rose by almost 1m to 5.4m during the period, with profits after tax increasing 58 per cent to 2.2m.

The company took on hundreds of employees to cope with demand. RBG had an average of 2,965 staff in 2008, an increase of more than 500 against 2007.

Accounts filed at Companies House reported that RBG's directors were pleased with the continued growth in the business, with "substantial" investments in plant and equipment to enable more growth in the future.

Directors at the group shared a combined 676,000 in 2008, 153,000 less than in 2007. The highest paid director, whose identity is not disclosed, was paid 226,000, a 3 per cent increase over the previous year.