Peter­son en­joys pay back from UK trade

En­ergy lo­gis­tics group boosts work­force for fu­ture

The Press and Journal (Aberdeen) - - BUSINESS -

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

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