Global Energy powers up for 2011

GLOBAL Energy Group chairman Roy MacGregor yesterday said his energy service company is in "better shape than ever" to seize opportunities in 2011.

The Inverness-based firm, which employs about 3,500 staff globally, this year bought six subsidiaries of former London-listed Sovereign Oilfield Group, which fell into administration.

His comments came as the group revealed its turnover had risen from 119 million in 2008-9 to 129m in 2009-10, with profits dropping from 9.3m to 7.4m. MacGregor added: "Our trading reflects our resilience as a company during one of the worst recessions in recent times.

"Although international economic conditions remain challenging, our continuing development in the current financial year gives us every reason to look to 2011 with considerable confidence."