Devon-based engineering business SC Group is aiming to continue the diversification of its business and take advantage of opportunities provided by the Hinkley Point C project.
In follows a year of growth for the group with an Australian defence contract providing a boost to turnover and pre-tax profit.
The group is made up of four divisions: Supacat, which operates in the defence sector; SC Innovation, which focuses on non-defence activity; marine industry business Proteum and Blackhill Engineering Services.
Nick Ames, managing director of the SC Group, told Insider that defence had achieved strong sales of military vehicles that should last for the next few years, but the company was targeting a more diverse business.
“The aim is not be too dependent on defence but also able to capitalise on the peaks in the sector when they happen” he said.
According to recently filed accounts for SC Group Global Ltd, turnover grew to £25.5m in the year ending 31 August 2015, up from £19.3m in 2014.
Pre-tax profit soared to £2.1m from £214,888 the year before.
Staff levels also rose by 10.7 per cent to 175 as a result of the increased levels of business and acquisitions made during 2014/15 and final part of the prior year.
Growth was attributed to a contract to supply 89 vehicles to the Australian Defence Materiel Organisation (DMO), scheduled to complete in June 2017.
Outside of its defence business, the group has undertaken work for The Royal National Lifeboat Institution (RNLI) and Fred Olsen among others.
Ames said the Hinkley Point C project had the potential to be a “truly transformative project for the South West” and its Blackhill Engineering Services business, acquired in 2014, was well-placed to capitalise.
“It’s always difficult to break into a new industry” he said. “You have to have to show you have completed projects in similar sectors.
“We’ve previously worked with the RNLI and Fred Olsen and we’ve developed vehicles for the oil and gas industry so we have case studies.
“Nuclear is a big area of focus for us and we think the skills we have developed are transferable. It’s important to capitalise if we’re to become a truly diversified engineering group.”