The company that owns Petrogas UK has reported a 12% increase in sales for last year despite “tough trading conditions and tightening fuel margins”.
In its annual results for 2013, Petrogas Global said turnover rose to €804.5m last year from €717.3m the previous year. Pre-tax profit rose to €10.1m from €5.8m in 2012.
Chief executive Bob Etchingham said: “The trading performance in 2013 was particularly commendable given the tough competitive environment in both Ireland and the UK and tightening fuel margins in the second half of the year.”
“The successful refinancing of the group’s legacy debt was a significant milestone in that it enabled us to re-focus on growing the business. We accelerated a number of initiatives while maintaining the rigorous discipline we have followed in recent years.”
“This enabled us to build out our estate and during the year we acquired our 100th site. The momentum of 2013 has carried through to 2014 as we have continued to expand in Ireland and the UK and we have now established a foothold in the US,” he said.
Petrogas UK climbed to sixth in the Forecourt Trader Top 50 Indies with 42 sites, compared with 11th position and 23 sites the previous year.