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XL Group on track to double revenues

Posted on 04 June 2019

XL Group on track to double revenues

XL Global Group is projecting a turnover of £22 million by the end of 2019. This represents a £14milion increase in the last two years, which have seen a period of investment in acquisitions, new divisions and technology, as well as recruitment of new people, taking the workforce to almost one hundred across five locations.

Chief executive, Colin Laird, said: “Our accelerated growth is a result of both acquisitions and increased business across all our divisions, but particularly within Access XL, Atlantic XL and Integrity XL.

Following a period of consolidation, during which we also invested in people and products, we’ve emerged as a robust, integrated group that has become globally recognised for solving incredibly complex challenges across diverse industries, including oil and gas. We’re now back on the acquisition trail and looking to invest further in our people and our technology to deliver maximum efficiency, performance and safety for our clients, whatever industry they are in and wherever they are in the world.”

Atlantic XL, the group’s offshore telecommunications business, is close to completion of a $10million contract with Wood to design, install, commission, and maintain the platform telecoms package, navigation and CCTV systems for Canadian major, Husky. The division’s chief operating officer, Karen Winsor, has been recently appointed as vice-chair of NOIA (Newfoundland and Labrador Oil & Gas Industries Association).

Meanwhile, Integrity XL have already secured new contracts valued in excess of £3 million.

Integrity XL, formed last year, is already becoming an industry leader in the provision of integrated process and pipeline, plant maintenance and shutdown services. The division is focused on reducing cost through innovation, technology and collaboration delivered by a multi-skilled team. By reducing the number of contracting interfaces used on a project and removing all non-essential deliverables for field service activities, Integrity XL delivers a fit-for-purpose approach.

Mr Laird added: “Our reputation for reliability and cost-efficiency, combined with the synergies of our divisions, is helping us win work. Once on-board with a customer, we are able to challenge and pioneer technology and applications to deliver continuity, efficiency and compliance.”

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