Saltire Energy Limited

Saltire Energy Ltd, based in Aberdeen, UK, is a holding company with an active status, celebrating 28 years since its establishment in 1996. Employing 38 people and boasting assets of £31,243,639, the company operates from a real address and is overseen by five directors and one owner. Its Google rating stands at a respectable 4.0 based on four reviews. The company regularly imports machinery, boilers, and mechanical appliances, parts, with 25 months of import activity, and exports iron or steel products, having exported for 122 months.

Primarily, Saltire Energy is a global leader in specialist drilling equipment rental. Its website highlights a comprehensive range of services, including equipment rental, torque testing, pressure testing, repair and refurbishment, and welding. The company caters to the oilfield sector, offering tubular rental, drilling tool rental, and pressure control rental, servicing clients worldwide with operations in Norway, the Middle East, and the Far East. They even have a racing team and support various community initiatives, like the Caledonia Cup for young rugby players.

Financially, Saltire Energy’s report reveals a mixed picture. While assets remain substantial at £31,243,639, current assets decreased by 12%, and net assets dropped by 18% to £58,000,000. Bank borrowings increased by 10%, reaching £5,800,000, and cash reserves fell 10% to £28,000,000. Creditors decreased by 10%, suggesting improved debt management. The company’s turnover increased by 15% to £11,000,000, but net losses deepened to -£23,000,000. The lack of an auditor mentioned suggests the company is exempt from an audit, relying on unaudited financial statements.

The company’s continued investment in state-of-the-art facilities and innovative product lines points to a commitment to growth, but the increased losses and reliance on bank borrowing suggest a need for careful financial management. The company's diverse operations and global reach, however, provide a strong foundation for future success.

Registered in Scotland under the registration number SC165384, with a registered address at AB10 1QR, Aberdeen, Aberdeenshire, Peterkins, 100 Union Street.

WARNING:The numbers have been rounded for simplicity and may be inaccurate.Please, refer to the latest financial report for verification.