23rd Jun 2014 09:49
LONDON (Alliance News) - Africa Oilfield Logistics Ltd Monday said it has strengthened its management team with the appointment of a chief operating officer, chief financial officer and projects director, while restructuring at its primary investment, Ardan Risk & Support Services, has boosted revenue and profitability.
The AIM-listed African focussed support services and logistics investment company said that to facilitate the implementation of Ardan's growth strategy, it has appointed Lachlan Monro as chief operating officer, Barry Lobel as chief financial officer, and Brendan Scott as projects director.
The company said the restructuring at Ardan Risk & Support Services has improved its operational performance and increased revenue and profits.
"The restructuring at Ardan has translated into increased activity and revenue generation, which we anticipate will be reflected in their next update expected shortly," said Chief Executive Officer Carl Esprey in a statement. "With these positive changes and Ardan's established international client base, the group is well positioned to take advantage of the rapidly increasing demand for support services in Africa."
Africa Oilfield Logistics said Ardan now operates through three divisions instead of six and has centralised its internal procurement, logistics and support. It has also recruited a new regional operational management team.
Shares in Africa Oilfield Logistics were up 1.6% at 8.00 pence Monday morning.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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