Directors at Shepherd Offshore say the firm is on the acquisition trail as it seeks to ramp up its position in the region’s growing energy and offshore markets.
The Walker marine engineering and warehousing business owns a number of sites including Swans Energy Park – the former Swan Hunter shipyard in Wallsend – the Offshore Technology Park and Neptune Energy Park in Walker, the Mitford estate in Northumberland and Halbeath Interchange in Scotland. The group counts companies including JDR Cables, Royal IHC Ltd, Bridon-Bekaert, IHC and Baker Hughes among its tenants.
Shepherd Offshore has now published accounts for the year ended April 2022 in which turnover rose 21.5% from £31.5m to £38.2m, although operating profit dipped from £17.16m to £15.96m, and pre-tax profit dropped from £17.05m to £15.8m. Total comprehensive income was £12.3m, down from £13.8m, but total equity at the group was recorded at £108.8m, up from £96.86m.
