Profits flow at Crown Oil

A FAMILY-OWNED oil distribution business based in Greater Manchester saw sales and earnings jump significantly last year.

Bury-headquartered Crown Oil supplies diesel, red diesel, heating oil, kerosene and lubricants throughout the UK to both homes and businesses.

In the year to August sales jumped 16.5% to £120m while lower administrative costs, down 34%, helped pre-tax profits rise from £277,921 last time to £4.1m.

The company, owned by the Greensmith family, employed 90 staff during the period, up from 78.

In their report the directors say they are satisfied with the results and will aim to increase both market share and profitability in the future.

“The group will continue to invest further resources into its customer service and support programmes to ensure that the growth strategy adopted by the directors can be delivered,” said the report.

According to a note in the accounts HM Revenue & Customs is challenging the “taxation treatment” of some transactions that company handled in 2004-5. The directors say any liability could “not easily be quantified” and no provision has been made in the figures.