Brimmond Group Celebrates 25th Year With Increased Revenue and Rental Figures
Brimmond Group, the independent integrated engineering company, is celebrating its 25th year in operation with an increase in turnover, rental contracts and rental revenue for this year’s first quarter, as a result of continued global demand for its services.
The Aberdeenshire-based provider of hydraulic, pneumatic, mechanical and electrical solutions has seen a six percent increase in whole business turnover for 2021, and, over first quarter of this year, a 35 percent increase in contracts for its rental equipment fleet, compared to the same Q1 period of 2020.
Tom Murdoch, Engineering Director at Brimmond Group said: “This success is testament to the in-house skills at Brimmond Group, as well as our hard- earned global reputation for pushing boundaries and developing engineering solutions tailored to meet our customers’ needs, no matter the brief.
“At year end 2021, the business has managed to increase turnover and remain profitable despite an extremely challenging year. This can be attributed to the adaptability and commitment of the team.
“Oil and gas is, and will continue to be, our primary source of revenue for a number of years to come. Going forward, we are actively targeting opportunities for sustainable growth in the renewables, marine and aquaculture markets. Since the start of the financial year, we have secured two six figure contract wins, one supporting a renewables client with the manufacture, assembly, and testing of a new product and the second for the refurbishment of a marine crane for a naval vessel.”
The revenue for the rental division of Brimmond Group increased by 47 percent compared to last year’s figures over the same period, with more than 20 percent coming from global projects in the Middle East and Norway, among others.
Despite Oil and Gas UK’s Business Outlook 2021 report stating that there was a 10% decline in operating expenditure (OPEX) in 2020, Brimmond Group has continued to project strong growth in this area. Alan Glennie, Technical Director at Brimmond Group, said: “Due to our diversification efforts into markets beyond oil and gas, as well as our allowing for further space and provisions, we have been able to expand our rental fleet and services significantly.
“The global demand for our range of equipment has remained high over the past 12 months as our clients have focused on operations and maintenance,” said Mr Glennie.
Brimmond Group was founded in 1996. In 2016, it moved to a purpose-built facility in Kintore which offers yard, office and workshop space with large capacity overhead cranes.