Asset management support company Latent has reported that its turnover in its latest financial year was more than £580,000, and has forecast that in the current year it will reach more than £1.5million.

The Aberdeen-based company said that during the first seven months of 2007 it had gained six new contracts estimated to be worth over £3.6million.

Operations manager Peter Adam said "There had been planned and sustained growth which had resulted in the creation of new jobs."

He said: "We have already strengthened our team through the creation of three new positions this year and there are plans to create a further three positions by the end of 2007. This will take the number employed to 16."

"The growth that we have achieved to date, and that which is forecast for the coming years, will necessitate a move to larger premises during the early part of 2008."

"We continue to work with some of the major players in the oil and gas industry and are currently involved in projects in the UK, Norway, Africa, Malaysia and the Middle East."

He said "That as the business continues to grow they would be opening a new office in one of the locations around the world where they work."

As well as planning to open a second office, Latent is in the process of appointing a Norway-based representative to assist with business development there.

Mr Adam added: "Plans are at an advanced stage to develop our presence in the Norwegian market. Appointing an agent should not only facilitate the current cross-border work that we do in Norway but also assist with new prospects."

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