THE north of Scotland-based Global Energy Group yesterday issued an upbeat forecast for the current year after announcing strong annual results for the 2007-08 financial year.

At £99m, the group's turnover for the year to April 2008 was up 43% and, at £6m, profitability increased by 200% on 2006-07.

Formed in 2005, with main offices in Aberdeen and Inverness, the Global Energy Group is a contracting and service-based company supporting the international energy industry and other industrial sectors. Encompassing 10 firms, the group's principal activities are: engineering, fabrication, rig repair and inspection, resource management, supply chain solutions and pipeline services.

Announcing the results, Global's chairman, Roy MacGregor, who also chairs Ross County foot-ball club, confirmed the group's turnover was on course to reach around £130m in the current year.

He said that while there was no room for complacency, the results and current buoyant trading gave the platform and confidence to continue the group's growth strategy.