Northbridge, a Stoke-on-Trent industrial services group, (www.northbridgegroup.co.uk) reports that the decline in the oil and gas sectors has adversely affected on its finances.

For the full year to 31 December 2015, the company recorded a pre-tax loss of £8.6 million, compared with a profit of £6.3 million previously, while group revenues were down by 24% to £34.1 million, compared to £44.9 million in 2014.

CEO Eric Hook said: “The dramatic fall in the price of oil during 2015 was the single biggest event to impact our trading performance. Rental operations in Australia, New Zealand, the Middle East and the Asia Pacific region bore the brunt of the decline in demand for drilling tools and load-testing equipment.”