Asco benefits from oil price

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Asco UK, the Aberdeen-based energy logistics specialist, saw sales advance strongly last year as it benefited from high oil prices.

Turnover in the UK rose by 9 per cent to £455 million and pre-tax profits were up by 53 per cent to £9.5m.

Staff numbers at its Aberdeen, Peterhead and Great Yarmouth sites rose to 693 from 601.

Net assets grew to £48.9m from £41.8m.

In May, Derek Smith was appointed chief executive of the wider Asco Group, replacing Billy Allan who has become the group’s executive chairman.

As well as the UK, Asco operates from bases in countries including Australia, Canada, Holland, India, Norway, Oman, Singapore, Trinidad and the US. It employs more than 2,000 people worldwide.