Euro Garages’ profits motor ahead

THE UK’s biggest independent forecourt operator today revealed a bumper hike in profits on the back of its revamped convenience stores and increased buying power.

Acquisition hungry Euro Garages has also added a further three sites to its portfolio, bringing the total number purchased in 2009 to 13.

In the year to July 31, fuel and retail sales rose 5% to £242.2m from £231.5m last time. Earnings before interest, tax, depreciation and amortisation were up 26% to £9.1m from £7.2m  in 2008.

The group, which has invested millions of pounds in improving its sites, said the figures were a result of the ‘vastly improved forecourt experience across the majority of the estate’.

Recent acquisitions include an 11-acre site in Ashby de la Zouche, a three-acre site in Uttoxeter and a three-acre site in Blackburn,

Euro Garages said the Blackburn site would be the location for its new head office building and a flagship forecourt, which would serve as a training academy for its 700 employees.

Director Mohsin Issa said: “We are successfully moving our model to one driven by the quality of the convenience retail offering and the overall customer experience across our sites.

“Investment in our people, in our existing estate and in new, premium locations – remain central to our ongoing growth strategy.”

Euro Garages was founded by the Issa family in 2001 and is currently ranked as one of the UK’s fastest growing privately-owned companies.