Profits jump 13% at Cammell Laird

MERSEYSIDE shipyard Cammell Laird saw sales and earnings rise last year as it continued to target work connected to the offshore wind industry.

Newly-filed accounts for the year to the end of May 31 show sales rose 26% to £95.2m. Pre-tax profits were up 13% to £10.3m.

Cammell Laird, which is a joint venture between its management and the Peel-owned Mersey Docks & Harbour Company, continues to win ship repair contracts but has given over a large part of its Birkenhead to servicing increasing offshore wind activities.

In their report the directors said: “The company intends to enter the heavy engineering sector and will target bespoke offshore, marine and energy/renewable energy markets.

“With the company’s highly skilled range of engineers it is expected that these trades personnel will be able to migrate across the varying business sectors providing stability whilst de-risking core activities and markets.”

It is working closely with German energy group RWE which has based an offshore wind farm installation vessel at Birkenhead.

During the year the shipyard carried out refits of three Royal Fleet Auxiliary vessels. It also completed sections of the Queen Elizabeth Aircraft Carrier, and in November a five-year agreement with the Ministry of Defence was renewed to maintain 11 of the Royal Fleet Auxiliary’s 16 vessels.

In the commercial market contracts were completed for James Fisher, Irish Ferries, Maersk and the Isle of Man Steam Packet Company.

“[The performance] has been achieved as a direct result of the company’s growing reputation for delivering a cost efficetive quality service to the ship owners and operators in the ship repair, conversion and military market place,” added the directors.

During the year staff numbers rose by 100 to 627.