Petrotechnics wins National Business Award
14 September 2007
At a gala dinner on Thursday, 13th September, Aberdeen-based company, Petrotechnics , was declared the winner in the 2007 National Business Awards for Scotland in the Danwood Growth Strategy of the Year category.
Petrotechnics reported a 44% increase in annual profits achieved through a successful growth strategy in the international upstream and downstream oil & gas sectors. Revenues to April 2007 totalled £11.1 million, a 68% increase on the previous year’s turnover. Established in 1989, the company’s strong performance has been maintained with sales growth of over 60% for the last five years and consistently high profitability for the current year.
Phil Murray, Petrotechnics’ Chief Executive Officer said: “We are very excited to have been awarded the trophy for the Danwood Growth Strategy of the Year, we are committed to continued growth to ensure we reach maximum potential and to reward all the stakeholders, including our employees, for their time and effort in growing our business.”
The National Business Awards for Scotland recognises and rewards excellence, innovation and success. The awards are open to organisations of all sizes and from any industry sector, making the final selection even more of a prestigious affair. This programme allows the best businesses to showcase their achievements and benchmark their successes.
Already an award-winning company, Petrotechnics has been recognised for its Health, Safety and Environment achievements; Product of the Year and an Information Technology Award for its solutions which are installed across frontline operations around the world.
Mr Murray continues “Over the past 18 months Petrotechnics has grown organically from 50 to over 130 people, the majority of which is attributable to international business growth. With over 80% of the North Sea using our product and our ever expanding international operations, the company is in an exciting growth phase and it is very rewarding to be recognised for this achievement by being pronounced a winner, especially with the fierce competition in this category!”