DSL Enjoying Increased Turnover As It Expands Overseas Operations
5th February 2013
Last year has been very good for the DSL Group, with a sales increase of nearly 40% to £22m and profits up even more as the investment in overseas subsidiaries over the last three years has been completed and these companies are now standing on their own two feet. The UK operation alone has seen a 37% increase in turnover as well as a better than expected increase in profits.
DSL has invested heavily in overseas subsidiaries in the last three years and as these operations have since created their own revenue and profit streams which has in turn eased the burden on the UK operation and contributed to the bottom line of the Group, which will have achieved an overall turnover increase from £14m in 2011 to £22m in 2012.
Following on from this growth last year, DSL has hit the ground running with derrick refurbishment contracts in Holland and Abu Dhabi as well as a significant derrick recertification contract in India.
This has led to twenty new permanent jobs over the last twelve months in the UK with many more being created during spells of particularly high activity, during which at times the company was working on a near 100% increase in turnover from the previous year.
More jobs have been created overseas with expansion of the Dubai operation into new bigger premises and the establishment of additional engineering resources there, to support its Middle East, India and Singapore Operations.
Their Singapore Company is about to move into brand new larger premises to enable it to sustain the growth that it has achieved in the last two years. This will also incorporate dedicated in-house fabrication facilities, as well as training facilities for its local field staff.
DSL has also recently opened an office in Cochin India on the back of both projects for Drilling Contractors working in Indian Waters, as well as a significant contract with ONGC for the Survey, Engineering and Re-certification of several of its offshore exploration rigs.
Mike Smith Managing Director of DSL said “these results reinforce a progressive trend of increased orders from both new and established customers. What is all the more pleasing is that those trends are continuing with several significant orders having been received over the holiday period and immediately after the New Year, with a few more that we are waiting to hear about. All of which points towards 2013 being a year of continued growth and activity for the business.”
Great Yarmouth is the head office of the Global operation which now includes operations in Singapore, Dubai and Brazil and offices in India, Houston and Aberdeen.