The Westhill-headquartered firm, a global provider of remotely operated vehicle (ROV) services, recorded a pre-tax profit of £13.3 million for the nine months leading up to 31 December 2024. This marks a substantial increase from the £3.1m profit reported for the full year ending 31 March 2024.

The company’s turnover also demonstrated strong performance, reaching £54.4m in the nine-month period, slightly exceeding the £53.7m generated over the previous twelve months. These figures, disclosed in a recent Companies House filing, offer the first detailed insight into Rovop’s financial health since its acquisition by C-Rovop LLC, a part of the Louisiana-based Edison Chouest Offshore group owned by American billionaire Gary Chouest.

The financial results are attributed to a series of major contract wins and growing demand from both the oil and gas and offshore wind sectors. Renewable energy projects now constitute a “significant portion” of Rovop’s revenue, underscoring the company’s successful pivot towards the energy transition.

The takeover, finalised in May, concluded a seven-year period under the ownership of private equity firm Bluewater. Rovop’s chief executive, Neil Potter, described the change as a “remarkable opportunity”, which has provided the company with access to new global markets through the extensive network of the Chouest group and its fleet of over 200 offshore vessels. This expanded reach has bolstered operations in Houston, Singapore, and Dubai.

In line with its international growth, Rovop’s workforce increased from 272 to 311 during the reporting period. The accounts also noted that the highest-paid director received £2.24m.

Looking ahead, director Dane Dundas expressed confidence in the company’s prospects. He stated: “The emerging balanced view towards energy security presents a positive outlook for both traditional and new energy, and the group is well positioned to serve both sectors.”

Mr Dundas highlighted the continued strong activity in offshore wind construction and cable laying, anticipating that the new ownership structure will unlock further growth opportunities.