Name: Saltire Energy
Industry/sector: Retail and related services
Date founded: 1986
The boss: Gary Leslie
Latest turnover: £36.3m
Three-year compound growth rate (%): 33.7
Latest EBITDA: £18.9m
In March 2015, Saltire Energy was named one of the 1,000 most inspiring companies in the UK by the London Stock Exchange, which followed its listings on The Sunday Times Fast Track 100 Ones to Watch and The Sunday Times Profit Track 100 league tables in 2014.
Investing in a new plant has paid off for Saltire Energy after the oil drilling equipment rental firm posted a ten per cent rise in revenues. Pre-tax profits edged up by three per cent after a rise in the costs of distribution and sales, including the investment in new rental gear.
Writing in a directors’ report, chief executive Mike Loggie said: “The group’s rentals have continued to show considerable growth. The directors consider that continued investment in new equipment will result in good long-term growth.”
In February, Saltire Energy unveiled a seven-figure deal to become Aberdeen Football Club’s shirt sponsor for the next three years, building on work the company had already undertaken with the side’s youth team. The firm has also sponsored golfer Paul Lawrie since 2011 and will support his first matchplay tournament at Murcar Links Golf Club in July and August 2016.
Earlier in 2015, the company moved its warehouse facilities from Tullos to Porthlethen as part of a £5m expansion of its 2.6-acre facilities on the Badentoy Estate. The expansion was triggered after turnover had jumped between 2012 and 2013 – the second year in a row that the company had notched up 50 per cent growth.
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