MEMBER NEWS: Exceptional international growth boosts turnover and profits at Craig Group

January 30, 2024
MEMBER NEWS: Exceptional international growth boosts turnover and profits at Craig Group

Global procurement specialists to the energy industry, Craig International, has reported over 60% growth in turnover and almost doubled its profits for the year ending April 2023.

The accounts lodged by Craig Group Limited, the holding company for Craig International and its international subsidiaries, reveal that turnover has grown from £116m to £188m in 2022 – 2023. Operating profits have risen from just over £1m to £2.7m in the period.

Almost 80% of turnover is attributable to international operations with significant growth coming from existing and new customers in North America and the Middle East.

Craig International supports the energy industry’s drive towards net-zero through a suite of sustainable and technology-driven platforms which demonstrate the role procurement can play in reducing carbon emissions. Their customer base now includes producers of cleaner, greener energy as well as upstream and downstream oil and gas.

During the year ending April 2023, Craig International invested in new headquarters in Aberdeen. The 10,000 square feet of modern, energy efficient space in the Granite City has doubled the size of their former offices.

Chairman of Craig Group, Douglas Craig, said: “These results underline the success of our investment in expanding our business into regions where there is the strongest growth potential. We have been investing in and committing to on-the-ground resources to provide the most cost-efficient, sustainable and quality end-to-end procurement solutions to existing and new customers.

“Our approach, combining over 25 years procurement experience with innovative digital platforms, not only delivers efficiencies for our customers but has also resulted in stronger margins for the group which has enabled us to increase operating profits despite negative exchange rate movements and increases in interest rates and costs.”

“On the back of success in North America and the Middle East, we have been exploring opportunities in the fast-growing energy markets in Australia and South East Asia. In the current financial year, we have invested in two new bases in Singapore and Perth, Western Australia.

“The North Sea, which accounts for around £40million of our revenues, has seen improved market conditions and we have retained our leading position, commanding about 70% of the market.”

With 160 staff, Craig International has a global network of pre-qualified suppliers, and over100 procurement specialists in ten countries, providing cost-effective and efficient third- party procurement.

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AREG is the original energy transition organisation, working on behalf of members to empower the energy supply chain and champion its expertise. Please get in touch if you have any questions or would like to find out more about membership.

AREG has played an important role in the growth of Scotland’s renewable energy sector, engaging the supply chain and developing the European Offshore Wind Deployment Centre. However, we are only at the very beginning of the transition that AREG was established to both lead and support so there are still opportunities for companies to get into the constantly evolving renewables supply chain. We look forward to continuing our work together as renewables builds on its place as Scotland’s main source of power, and as we seek to deliver real change in the crucial areas of heat and transport.

Scottish Renewables

Aberdeen & Grampian Chamber of Commerce has worked closely with AREG since its formation. The recent progress in the developments of offshore wind projects by Equinor and Vattenfall are as a result of the work of the group over many years. The north-east is known as the oil and gas capital of Europe. At the Chamber, we believe the region must evolve its position to being recognised as the energy capital. Whilst hydrocarbons will continue to be essential in driving our economy for years to come, the generation of renewable resources will play an increasingly important role in providing cost-effective power, innovative development and economic growth.

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The enthusiasm and dedication of the early group that would become AREG was fundamental in us choosing to launch All-Energy in Aberdeen. The first tiny show was held in 2001, and AREG’s Chairman at the time, Jeremy Cresswell, played such an active role that I often describe him in terms such as All-Energy’s ‘midwife’. All-Energy is now the UK’s largest renewable and low carbon energy exhibition and conference in terms of number of attendees, space booked, and number of exhibiting companies. As AREG became firmly established, their presence and support for the event grew spectacularly over the years. We thank them most sincerely for their invaluable input.


Vattenfall has forged a strong working relationship with AREG through the development of the European Offshore Wind Deployment Centre. AREG has worked tirelessly on behalf of the North East and it can take enormous credit for the growth of sustainable energy in the region and the path it has cleared for the region to capture further investment.


Aberdeen City and Shire is emerging as a key location for renewables by successfully transferring its world-class oil and gas expertise into the sector and AREG has done much to advance this through a broad range of initiatives. It has acted as a catalyst in driving further investment in the local economy by engaging with companies, Government, public bodies and existing projects and we have been pleased to support their efforts. Scottish Enterprise will continue to engage with AREG as we increase Scotland’s use of renewable energy.

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