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Rontec reports a surge in pre-tax profits to £68.1m

John Wood ·
Rontec Gateway Fuel Station Leeds Gerald Ronson, David Potts, Morrisons
Gerald Ronson (right) with Morrisons chief executive David Potts
  (Photo:  )

Top 50 Indie Rontec has reported a surge in pre-tax profits to £68.1m in its latest financial results, compared with £27.3m the previous year. 

Its results for the year ending September 30, 2019, showed the results were boosted by an extraordinary profit of £37.7m on the sale of 35% of its 45% interest in The Right Fuelcard Company, but operating profit also grew to £30.1m, compared with £25.1m the previous year. Turnover increased to £1.292bn from £1.251bn.

During the year the company acquired six more sites and exchanged contracts on a further 11, taking its total number of sites to 259, maintaining its position as the third largest independent forecourt operator in the UK.

The company also invested £5.9m in upgrading sites and carried out major redevelopments at Forestdale and Daventry.

In his chairman’s statement, Gerald Ronson reported the company had passed the 5 billion litres mark with Esso in the financial year.

He said good progress had been made on Rontec’s retail business with the number of Morrisons sites increasing to more than 50 and a new ten-year agreement with Morrisons being signed shortly after the year end.

The company also passed the £1m mark in money raised for charity with its Pennies initiative, after £310,000 was raised during the year.

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Weekly retail fuel prices: 18 May 2020
RegionDieselLPGSuper ULUL
East Midlands112.21122.26106.78
North East110.8763.90125.50105.36
North West111.4965.90121.74106.55
Northern Ireland108.30111.90101.84
South East113.30122.65108.11
South West112.20120.84106.51
West Midlands112.13125.92106.81
Yorkshire & Humber111.7057.70123.12106.23

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