Africa Oilfield Logistics Ltd, the AIM listed African focussed support services and logistics company, is pleased to announce a positive update in respect of new management appointments and the restructuring of the Company's primary investment, Ardan Risk & Support Services (Ardan).
The Company has strengthened its management team with three key appointments to facilitate the implementation of Ardan's growth strategy:
o Chief Operating Officer: Lachlan Monro - 15 years senior management experience in support services;
o Chief Financial Officer: Barry Lobel - 12 years financial experience; and
o Projects Director: Brendan Scott - 15 years construction and support services experience in Africa.
In addition, the restructuring of Ardan has improved operational performance and increased revenue and profitability. In particular:
o Ardan now operates through three divisions instead of six and has centralised its internal procurement, logistics and support. This is improving efficiency and controls, whilst the increased visibility of the end to end offering for clients is providing further cross-selling opportunities; and
o A new regional operational management team has been recruited, comprising African focussed support service professionals.
Chief Executive Officer Carl Esprey said, "Excellent progress is being made in all areas of the business as we look to solidify our position as one of Africa's leading and fastest growing natural resource focussed support services companies. The restructuring at Ardan has translated into increased activity and revenue generation, which we anticipate will be reflected in their next update expected shortly. Quality management are crucial in the execution of projects and I am delighted that we have secured both highly experienced professionals to head the business as well as new management who are already making a positive impact. 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."