ilfield service group Aker Solutions is looking towards the future with confidence, the Press and Journal newspaper has reported.

Aker said strong North Sea activity had helped to boost turnover by more than half.

Their experience contrasts with the findings of the Ernst & Young Oil and Gas Eye Index earlier in the week, which reported that 81% of Aim-quoted oil and gas firms has posted falls in their share prices.

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Ernst and Young predicted that small companies would develop less.

Aker’s size may be shielding it from these effects of the recession, as the 25,00-people-strong company has predicted that investment in the region will continue to rise over the next three years, adding to demand for its services.

Aker said a strong global oil and gas market had led to £1.3billion turnover in the second quarter of the year, compared with £841million in the same period in 2011.

Operating profits also jumped, to £113.6million from £46.5million, while pre-tax profits were up to £91.1million from £33.6million.

The company said it was in the market for major opportunities in the North Sea, Brazil, Asia-Pacific and west Africa.

(NE)