The Company has in place a set of key performance indicators (“KPIs”) to enable us to measure performance through the success of our strategy.
Northbridge is focused on the sales and hire of specialist industrial equipment on a global basis for use in
critical applications in the oil and gas, shipping, construction, and power and utility sectors.
Northbridge is the largest designer, manufacturer, supplier and renter of specialist loadbanks and transformers in the world.
Loadbanks are primarily used for the commissioning and maintenance of independent power sources and systems such as diesel generators and gas turbines.
Specialist hire of containerised transformers and switchgear and temporary packaged substations globally.
Provides medium and low voltage transformers at various capacities with voltages from 230v to 36,000v. Providing step-up and step-down capabilities.
Over 4,000 different products to the onshore and offshore oil and gas industry.
Well positioned in Australia, New Zealand and the Middle East to meet demand when it increases.
Operating through six major international hubs with a worldwide support network of depots and agents we are able to service the global demand for our products.
Exposure to strong global end markets with blue-chip clients
Organic and acquisitive growth potential
Geographic diversification with cross-selling potential
Substantial and specialised hire fleet
Significant cash generation
The main background for the Group during 2015 has
been the collapse in the crude oil price and its impact
on the Group’s revenues.
The Northbridge strategy is to consolidate and build its specialist industrial equipment businesses by:
When considering further acquisitions, the main criteria will be:
Both the core businesses of Crestchic and
Tasman have good sustainable growth opportunities
in the future when their markets recover to more
Tasman’s revenue was £10.5 million (2014: £14.7 million), a decline of 28.4%, and Crestchic’s revenue was £22.8 million (2014: £28.6 million), a decline of 20.4%.
The Group incurred exceptional items during the year totalling £7.2 million (2014: £0.7 million). This was due to the costs of exiting non-core businesses, the sale of surplus assets, the impairment of intangible assets and the cost reduction exercise.
We are pleased to present our review of the Group’s trading performance for 2015.