Aberdeen-headquartered engineering and marine services group, First Tech Limited, has reported record financial results, with turnover soaring to £72 million for the financial year ending 30 April 2025. This significant achievement comes despite what the company describes as “tricky market conditions in the UK”.
The announcement of these robust figures follows a period of transition for the group, notably the passing of its esteemed founder, Ian Suttie. Mr Suttie, who died in October at the age of 80, was instrumental in transforming First Tech from a modest engineering firm into a diversified entity with operations spanning subsea, lifting, marine services, and offshore energy. He was also widely recognised in Aberdeen for his substantial philanthropic contributions, alongside his wife Dorothy, which included the £21 million Suttie Centre and the Suttie Art Space at Aberdeen Royal Infirmary. The Suttie Centre, a joint project with the University of Aberdeen and NHS Grampian, opened in 2009.
The First Tech Group is now overseen by Ian Suttie’s son, Martin Suttie, who holds the position of chairman and managing director of First Integrated Solutions, a key subsidiary. The broader group’s portfolio includes First Marine Solutions, First Competence, First Subsea, and Mooring Systems, maintaining a strong presence across critical sectors.
Financial accounts for the year to April 2025 reveal a 26% increase in turnover compared to the previous year. Pre-tax profits reached £5.4 million, a slight adjustment from the 2024 figures, while net assets strengthened by 8% to exceed £46.8 million. The group’s expansion is also reflected in its workforce, which grew to a record 400 staff post year-end, with additional positions still available. Furthermore, First Tech invested over £5 million across its operations and acquired more than 40,000 sq ft of additional warehouse capacity for three of its subsidiaries.
Martin Suttie commented on the performance, stating the results reflect “controlled and sustainable growth”. He said:
“It is pleasing to announce another good set of results. After our rapid growth we are consolidating that financial performance. The ambition of the group to continue to grow in a controlled and sustainable way continues and it is pleasing to see the acquisitions have gone very well and complement the existing culture of making long term decisions very well. I am also excited that new products developed internally have started generating revenue post year-end”.
Strategic acquisitions have been a significant driver of this growth. In July 2024, First Integrated Solutions completed a seven-figure acquisition of Tusk Lifting, thereby expanding the group’s footprint across the UK. This was followed in February 2025 by First Marine Solutions’ purchase of Andrew Survey, an entity that has since performed strongly and is expected to contribute further to current year results. The group is also advancing innovation, with new products such as the Terra Anchor already deployed for clients within the UK Continental Shelf.
Looking ahead, Group Finance Director Steven Brown affirmed the business’s resilience.
“The group continues to trade very well in tricky market conditions especially in the UK. The addition of both Andrews and Tusk provides synergies with our existing services and capability whilst simultaneously providing diversification opportunity for the group. Looking to 2026 and beyond the group is well-positioned to continue its growth story. With the full year impact of both acquisitions we expect turnover to be in the region of £90m – a 25% increase year on year”.
