The company celebrates achieving a rise of £20 million, from £90 million the previous year
The father and daughter team of Colin and Sally Owens running Oil 4 Wales, saw turnover rise by £20 million in 2016/17, up from £90 million in the previous year. Supplying 65,000 domestic and commercial customers across Wales, the company also achieved a small profit, which is reflective of the over-supply of the market and volatile prices.
For the redevelopment of its owned and operated fuel service station in Maesteg - Maesteg 24/7, £200,000 was invested, which included a total redesign of the shop and the development of a modern and spacious new café. A £300,000 investment at its outlet in Powys, saw the site become fully bottom loading to serve the local farming community more efficiently.
Managing director Colin Owens, said: “For a company of our turnover, the profit is smaller than we’d hoped, but it does reflect the over-supply and volatile market in the current political climate. Also over the past 12 months, we have worked tirelessly to enhance our depots and fuel service stations for our loyal customers, create employment opportunities, and provide vital support within the communities that we serve. These results are a testament to our teams’ hard work throughout the year, and we’d like to thank them for their dedication once again.”
He added that the growth comes after a period in which the company has made significant investment, and so are thrilled that it is having a positive impact across the communities that are served.
The company plans to strengthen and expand the brand even further next year, through a number of high-profile projects, which will be announced in due course. And over the next five years, Oil 4 Wales aims to continue achieving growth of 20 to 30 per cent year on year whilst building up reserves to ensure the company’s long-term future. PWKD13102017