3sun Group Turnover Increases Almost Three-Fold (UK)
- Business & Finance
Great-Yarmouth based 3sun Group, a specialist provider of products and services to the global energy industry, has reported a turnover of £13.7 million for the financial year 2012/13.
The company’s turnover increased almost three-fold from 2010/2011, going from £2.4million to £6.5million, and almost doubled from 2011/2012 with an increase to £11.4million.
Its projected turnover for the 2013/14 financial year is on track to be £25million, following the recent acquisition of RRC Controls Services, an established manufacturer of subsea control systems for the offshore oil and gas industry. The company is now a wholly owned subsidiary of 3sun Group and it is expected that 40 new jobs will be created between Aberdeen, Gourdon and Great Yarmouth within the next 12 months.
Graham Hacon, managing director at 3sun Group, said: “The company has grown steadily and significantly throughout its six years in operation. Due to the impressive financial outcomes of the past few years, we have used 2012/13 to re-invest some of the company’s funds into increasing 3sun Group’s capabilities and global presence. This is in order to reach a number of future milestones, and will be highly beneficial in the long run which is evident from our 2013/14 financial predictions.
“We have established a strong base in the UK and the acquisition of RRC Controls Services has bolstered our footprint in Aberdeen, whilst giving us the ability to serve the global subsea market, offering full turnkey engineering solutions. This is set to create additional jobs across the Group, whilst providing an increased support structure to our clients.”
As part of its move to increase global operations 2012/13 has seen 3sun Group opening new bases in both Denmark and Germany. The Group also acquired the 3sun Academy, providing technical and vocational training across the UK and Europe, as well as becoming an agent for Outreach.
Hacon continued: “Our relationships with current and prospective customers, and what we can offer them, remains at the forefront of all that we do. A fundamental part of the decision to open new bases was to ensure that we are working closely with our clients in the regions in which they operate, and maintain these strong working relationships.
“We also remain focused on our headquarters in Great Yarmouth, having invested £500,000 in new purpose built premises in the region. We currently have plans to add 40 employees each to our Great Yarmouth and Aberdeen bases. We look forward to continuing to support the local economy and providing employment opportunities in the regions.”
The Group has a strong ethos for identifying and investing in talent, with ambitious efforts to train the workforce of tomorrow. It has undertaken a number of recruitment initiatives this year including targeting those who are ex-forces, school leavers and recruited an entire years’ intake of Engineering and Construction Industry Training Board apprentices.
Hacon continued: “Taking on apprentices is a big expense and responsibility, costing anything between £10,000 – £20,000 per apprentice per year, however it is an investment we are willing to make to help progress the industry.”
2012/13 also saw the Group created 100 new jobs in response to growing demand for its products and services across the UK and Europe, in order to increase manpower within its technical teams.
Press Release, October 28, 2013