Led · Equity · Mar 2013

Scopus Engineering develops laser survey technology that lets oil and gas firms produce accurate models of large components fitted on rigs, reducing the need for offshore trips. The company says its systems are used to ensure the accuracy of huge components on drilling platforms and similar assets. Scopus is owned by Andy Inglis and co-founder Tom Bryce and is targeting international growth, with offices including Abu Dhabi and Thailand. It has about 180 employees and has been growing rapidly on the back of booming activity in the UK North Sea and overseas. Financially, Scopus grew sales by 15% annually to £13.1m in the year to April 30, 2012, with UK revenues up 50% to £8.5m; it made a £2.4m pre-tax profit and paid £1.26m in dividends. Management expects turnover to increase to about £18m in the current year and is using new investment to capitalise on rising spending by oil and gas firms.