Hydro Group Announces Most Successful Year to Date

Friday, November 15, 2013
Doug Whyte, Hydro Group managing director

Hydro Group Plc, a global design and manufacturer of underwater cables and connectors for subsea, underwater, topside and onshore applications, has posted its 2012-13 (to year end March 31) results with more than a 12% rise in comparable turnover from £6.3 million to £7.1 million and a 136% increase in operating profit from £546,088 to £1.3 million

Doug Whyte, Hydro Group managing director, said, “2012-13 has been our most successful financial year to date. Investment in previous years in new facilities, R&D, new equipment, processes and staff has all played a part in a strategic vision for long-term growth.”

“Additional capacity and manufacturing flexibility has enabled Hydro Group to fully support increasing demands from customers in energy, defense and offshore renewables markets.”

“There has been a significant increase in market activity in all of the subsea business sectors addressed by the company in the last 18-24 months. There has also been an equivalent growth in export sales which represent around 30% of revenue.”

In 2010 Hydro Group opened its £4.2 million state-of-the-art research, design, engineering and manufacturing facility at Aberdeen Science and Energy Park, with further investment in equipment totaling close to £1 million by the end of 2012, including a purpose built cable lay-up machine and additional extrusion equipment. 2013 saw electrical, mechanical and hydrostatic test facilities upgraded.

“This investment in equipment has allowed extension of our product ranges enabling the company to offer longer continuous cable lengths at larger diameters. More complex, composite cable assemblies can now be produced that are more mechanically robust and incorporate a variety of electrical, optical and mechanical strain bearing components. The enhanced product capabilities have also enabled Hydro Group to expand the engineering services for specialist product designs, installation and repair services.”

A major national and international supplier of harsh environment engineered products, Hydro Group experienced growth in both domestic and global markets in 2013, realizing the most significant increases in the energy and defense markets, with £600,000 and almost £2 million worth of contracts secured for each respective markets in the last six months alone.

Mr. Whyte continued, “The next phase of growth began this year, with the opening of our Singapore office where we have initially invested close to £300,000 in developing the South East Asia operation, recognizing it as a potential high growth region for us.

“Our target turnover for the coming year is £8.5 million, with future projected growth predicted to reach £10 million over the next two years. This will be realized by opportunities to grow our domestic and European Energy, Defense and Renewables markets and strong International markets that will require further investment and focus to develop.”

With an extensive product range, Hydro Group takes the raw materials and manufacture from start to finish in Scotland, before exporting globally. Future plans will see the SME continuing to invest in a number of areas of product development, new capital equipment and increase staff numbers from 80-100 in 2014.


  • Doug Whyte, Hydro Group managing director

    Doug Whyte, Hydro Group managing director

  • Ricci Davidson, Technician at Hydro Group

    Ricci Davidson, Technician at Hydro Group

Maritime Reporter October 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Andrews to Lead CWind’s O&M Division

Lee Andrews has been appointed as CWind’s new global head of operations for maintenance and asset management (O&M) services.   Andrews joins CWind from Siemens

US Orders Trawler with Common-Rail Technology

Tier II-compliant 32/44CR technology to deliver fuel efficiency, low emissions and improved productivity   MAN Diesel & Turbo has received an order for an MAN

Environmental Awards Recognize 84 Foss Vessels

With a combined 840 years without an environmental incident, 84 Foss Maritime and subsidiary companies' tugs and tank barges have been recognized by a major maritime


Rates Increase Boosts Diana Containerships Q3 Income

Diana Containerships Inc. reported net income of $1.4 million for the third quarter of 2014, compared to a net loss of $0.7 million for the respective period of 2013.

EU Backs Nantes St-Nazaire and Vigo Transport Link

The EU's TEN-T Program will back the upgrade of the existing sea line between Nantes St-Nazaire, France and Vigo, Spain with over €3.5 million to ensure reliable

Egypt Eyes Suez Container Port Renegotiation

Egypt is trying to renegotiate an extension of an agreement worth $1.5 billion with Suez Canal Container Terminal which has a concession to run a port near the entrance to the canal,


Dutch Yards May Need to Rethink Contract Structures

Rotterdam-based law firm AKD said a recent decision of the Dutch courts means that shipyards in The Netherlands may no longer be able to rely on the right to retain

Seven Rescued from Sinking Freighter near Haiti

Seven crewmembers were rescued after their 100-foot coastal freighter began taking on water and sank approximately 45 miles north off of Cap Haitien, Haiti, Friday.

US Orders Trawler with Common-Rail Technology

Tier II-compliant 32/44CR technology to deliver fuel efficiency, low emissions and improved productivity   MAN Diesel & Turbo has received an order for an MAN

Marine Equipment

US Orders Trawler with Common-Rail Technology

Tier II-compliant 32/44CR technology to deliver fuel efficiency, low emissions and improved productivity   MAN Diesel & Turbo has received an order for an MAN

New McAllister Tug Features JonRie Winch Set

JonRie Marine Winches supplied its fifth ship set of full bollard pull winches to New York’s McAllister Towing for installation on its new tug, Tate McAllister.

Fincantieri Sign MoUs with Carnival & CSSC

Fincantieri, the world leader in the construction of cruise ships, has signed two memorandums of understanding, respectively with Carnival Corporation, the world’s largest cruise line,

Underwater Engineering

Sapurakencana Wins 3 Petronas Oil blocks

SapuraKencana Petroleum Berhad today announced that it has entered into Sale and Purchase Agreements to acquire the entire interest of PETRONAS in 3 blocks offshore

Time-out for Kwanza Drilling

Statoil has decided to cancel the Stena Carron rig contract after fulfilling the work commitments in the Statoil-operated blocks 38 and 39 in the Kwanza basin offshore Angola.

EMGS to Map Brazil's Gas Hydrates

Electromagnetic Geoservices ASA (EMGS) has received a contract worth USD 1.5 million for a research project in Brazil. The project will use 3D EM data to map

Maritime Careers / Shipboard Positions Maritime Standards Naval Architecture Navigation Offshore Oil Pipelines Pod Propulsion Ship Electronics Ship Simulators Sonar
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.3284 sec (3 req/sec)