Due to additional headcount for the training segment, and higher operating expenses following the acquisition of a training centre business in Spain, Sheffield’s administrative expenses rose by 20% to US$2.08 million for the period.
Providing more details on its new training business, Sheffield says the segment generated US$0.7 million revenue following the January 2025 commencement of training courses in Taiwan and the Spanish acquisition in June 2025. For Taiwan, Sheffield believes that the business is yet to fulfil its potential and plans to step up marketing efforts. It points out that while the Spanish business is maintaining stable revenue and consistent performance with healthy gross margins, the company will not rest on its laurels and is striving to increase market share.
Outlook-wise, sustained global demand for specialised offshore wind personnel will ensure resiliency of Sheffield’s core manpower business. The company notes that the wind sector in Europe will generate more than 600,000 jobs by 2030, with demand for offshore wind energy picking up speed. Regionally, Sheffield sees opportunities in Taiwan which is seeking to increase its offshore wind capacity to 13.1 GW by 2030.
The counter’s share price remained unchanged on Feb 12.
