Turnover surge for electrical firm
A Northern Ireland electrical design firm has seen its turnover surge by almost 50% in the last year.
Powerteam constructs and maintains high voltage electrical substations and overhead lines, the majority of which are located outside Northern Ireland - in Great Britain and the Republic of Ireland.
Management at the Belfast based company have reported a £14 million increase in turnover in 2012 (up 47%) and an accompanying rise in staffing levels by more than a third (36%).
Alastair Dawson, managing director at Powerteam, said: "These figures reflect the business development effort made over the last 24 months and provide Powerteam with a strong foundation that we can further build on.
"It is great to see that during 2012 we have added blue chip companies of the calibre of Scottish Power, Electricity Northwest, Northern Powergrid and EDF Energy Renewables to our existing client base that includes SSE (Scottish and Southern Energy) and ESB (Ireland's Electricity Supply Board).
"Contracts awarded by these companies include overhead line work in Manchester for Electricity Northwest; five Substation projects in Yorkshire for Northern Powergrid; overhead line refurbishment work for Scottish Power; and the Fallago Rig Wind Farm project in the Scottish Borders for EDF Renewables.
"Added to this, during 2012 we made some significant investments in staff training and recruitment, IT, fleet and specialist equipment as well as securing new premises in Manchester and Perth.
"Our core business - building new, and refurbishing existing substations and overhead lines for electricity network operators is forecast to continue to grow as some of the electricity infrastructure is 40 to 50 years old and has reached the end of its useful life. Renewable energy projects account for approximately 20% of our business and we expect to see this being maintained for the next three to four years.
"Our growth has continued into 2013 as we have already secured new orders valued at £10m including four new wind farm projects - to add to the six that we are currently constructing - a positive start to the year."
A subsidiary of ESB, Powerteam has offices in Perth, Basingstoke, Manchester, Omagh and Belfast and directly employs 200 staff with a further 140 subcontracted workers engaged at any one time.