International testing and inspection group Intertek suffered a 4% fall in revenue and 5% fall in adjusted operating profit last year.
Chairman Sir David Reid said the operating results reflected variable market conditions in the sectors they serve.
The company, which employs 38,000 people in more than 100 countries, saw its share price edge marginally ahead in trading on Monday.
In Scotland the company’s main activities are in Aberdeen and it also has branches at Grangemouth, Orkney, Shetland, Alness, Hamilton and in Dundee, which offers an energy and water consultancy service.
Sir David said solid growth in the majority of businesses and industries was offset primarily by weaknesses in the minerals and oil and gas infrastructure sectors which impacted on the growth rate.
Revenue was down 4% at £2,093 million and operating profit was down 11% at £277m adjusted to 5% at £324m.
The adjusted diluted earnings per share were down 5% at 132.1p and statutory diluted EPS down 12% at 108.8p.
Over five years the figures were better with revenue up 11%, adjusted operating profit up 9%, adjusted diluted EPS up 10% and dividend per share up 15%.
Revenue in commercial and electrical work was up 6.3% at £359.6m and accounted for 17% of income last year.
In chemicals and pharmaceuticals revenue was up 2.5% at £173.1m and accounted for 8% of income.
In consumer goods revenue was down 1.7% at £375.3m accounting for 18% of income, and in commodities it was down 7.5% at £542.4m accounting for 26% of income.
In industry and assurance revenue was down 9.4% at £642.9m accounting for 31% of income.
Sir David said Intertek’s customers range from multinationals to small companies in industry and assurance, commodities, consumer goods, commercial and electrical and chemicals and pharmaceuticals.
It provides auditing, certification, inspection, testing and analysis, training, outsourcing and consultancy.
Chief executive Wolfhart Hauser said last year had been one of continuing headwinds in certain business areas which offset good growth in the majority of Intertek businesses.
There was very good growth in emerging markets accounting for 38% of total revenue, but growth in some parts of Europe remained weak.
To address market weaknesses and align business, capital and management to focus on growth, Intertek had closed and restructured underperforming operations.
It also exited certain low value contracts in the industry and assurance division.
Mr Hauser, who retires next month, said that in the last 30 years Intertek’s activities had helped improve health and safety and supported the adoption of new improving technologies.
He is to be the new chairman of Aberdeen-based FirstGroup.