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Oil and gas support services company Asco Group narrowed losses during 2016 despite facing “extremely aggressive” competition in the market.
The Aberdeen firm said in its latest accounts a general downward trend in quayside work was offset by the significant drilling activity of one of its local clients.
But it was pricing rather than volumes that were the biggest feature of 2016, Asco said, adding: “One competitor has been extremely aggressive on pricing.
“As a result, we have lost a significant contract in Aberdeen and may lose another in Trinidad.
“These have not materially affected 2016