Ashtead Technology has announced a 21% jump in revenue to £203.2m in its latest annual results, which the group said had been driven by acquisition activity.

The company successfully integrated its Seatronics and J2 Subsea acquisitions last year, which it said had “increased depth and scale” to international locations, and supported inorganic revenue growth of 19%.

Ashtead, which provides international subsea equipment rental and technology solutions to the global offshore energy sector, was announcing its full-year results for 2025.

The group reported a pre-tax profit of £41.2m for the year, a 14.3% improvement on £36.1m in 2024, as it also cited a “highly cash generative business model”, “disciplined capital allocation” and “strong balance sheet” which had resulted in an adiitional 3% organic growth.

“We delivered a strong performance in 2025, making significant financial, strategic and operational progress against a challenging and unpredictable geopolitical and market backdrop,” Ashtead’s CEO, Allan Pirie, said.

“Our flexible operating model and integrated offering supports the full lifecycle of offshore energy infrastructure, allowing us to capitalise on offshore activity irrespective of geography or end market. This inherent agility has underpinned our resilience over the past year, enabling us to deliver another year of organic growth and strong returns.”

Ashtead also revealed that trading in the first two months of its 2026 financial year has been “in line” with management's expectations.

The company noted that it is “closely monitoring” the current situation in the Middle East which it said had caused volatility in oil and gas markets, and subsequent project execution timing uncertainty in the region.

“We are mindful of the evolving situation in the Middle East and continue to monitor this closely,” added Pirie.

“The conflict further reinforces the importance of energy security, which coupled with a growing demand for energy creates an enduring platform for long-term growth across the markets in which we operate. Our focus remains on delivering our strategy to create and capture more opportunities to grow and strengthen the group.”

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