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 Today

The Maritime Industry's original and most viewed E-News Service

Maritime Reporter July 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Young Taken on PESA Advisory Board

Hoover Container Solutions’ chairman and CEO, Donald Young, has been nominated and elected to the Petroleum Equipment & Services Association (PESA) Advisory Board for a three-year term.

US Navy Tests Latest Aegis Weapon System

The U.S. Navy conducted a series of cooperative air defense test exercises with the Spanish navy that culminated in live missile firing events using the latest Aegis Weapon System baseline July 20-21.

Antwerp Port CEO Scoops Baron Title

After 25 years as CEO of Antwerp Port Authority, Eddy Bruyninckx has been raised to the nobility by H.M. the king of Belgium with the rank of baron. In Belgium


Turkey’s Role for the Tanker Market

Even though the coup attempt in Turkey  failed and the transportation situation normalized quickly thereafter, Poten & Partners take a look at the importance of Turkey to the tanker market.

China’s One Belt, One Road: Will it Reshape Global Trade?

The future of trade in Asia could depend heavily on what becomes of China’s expansive One Belt, One Road initiative, which calls for massive investment in and

IOC Mulls Buying GSPC's Stake in Mundra Terminal

Indian Oil Corporation (IOC), the country's largest oil company,  is in talks to buy debt-laden Gujarat State Petroleum Corp’s (GSPC) stake in the under-construction Rs.


Los Angeles Port Pushes for Valero Oil Terminal Improvements Project

The Port of Los Angeles has released an Initial Study/Notice of Preparation (IS/NOP) — the first step in the Environmental Impact Report (EIR) process —

Eni Cancels Vessel Deal with Viking Supply Ships

Viking Supply Ships A/S (VSS) has received an early termination notice of the contract for the Ice-class 1A AHTS “Njord Viking”. The vessel has been working for

B&G Software Upgrade for Zeus2 and Vulcan Chartplotter

B&G, the world’s leading sailing navigation and instrument specialist has upgraded its latest software for the full range of Zeus2 and Vulcan chartplotters. The

Marine Equipment

Eni Cancels Vessel Deal with Viking Supply Ships

Viking Supply Ships A/S (VSS) has received an early termination notice of the contract for the Ice-class 1A AHTS “Njord Viking”. The vessel has been working for

Navig8 Acquires Chemical Tanker from STX

Navig8 Chemical Tankers Inc (the “Company”) (N-OTC: CHEMS), an international shipping company focused on the transportation of chemicals, today announced that it

Damen ASD Tug for Mexico

Damen congratulates Reylaver on the safe arrival and naming ceremony of the new ASD Tug 2411 Jesus. In order to reach her owners, the vessel undertook, on her own keel,

Subsea Defense

N.Korea Builds New Submarine Base

North Korea is in the midst of building a new naval base on the east coast to accommodate submarines capable of firing submarine-launched ballistic missiles (SLBMs), says IHS Jane's Defence Weekly.

Underwater Engineering

Pathogenic bacteria hitchhiking to North and Baltic Seas?

For the first time, AWI scientists have found evidence of living, potentially pathogenic vibrions on microplastic particles. With increasing water temperatures

Ithaca’s FPF-1 platform to be moved to Stella field

Ithaca Energy Inc. reports that the "FPF-1" floating production facility has completed the required inclination test as planned and departed the Remontowa shipyard in Gdansk, Poland.

Great Lakes Dredging Awards Announced

Great Lakes Dredge & Dock Corporation announced that it was recently awarded four contracts with an approximate value of $93 million. Great Lakes received two

Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Navigation Salvage Ship Electronics Ship Simulators Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | 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: 0.1495 sec (7 req/sec)