MRH, the UK’s largest independent owner and operator of service stations, says it is “well-placed” to make further acquisitions following its deal with Esso earlier this year to buy 78 sites.
The company, which tops The Grocer’s annual ranking of the UK’s Top 50 independent retailers, voiced its hunger for more deals in its accounts posted at Companies House.
MRH, which had 372 sites operational as of last September, including 130 Hursts-branded c-stores, posted pre-tax profit up 27% from £25.6m to £32.6m on turnover up from £1.6bn to £1.8bn in the year ended 28 September.
EBITDA, excluding exceptional items, also climbed 27%, from £40.4m to £51.2m. Bank debt fell 4% to £152m and gearing fell to 23% compared with 30% at the same time in 2013.
David Hathaway, secretary, said the directors expected overall trading conditions to continue to improve with the economy expected to show further gross domestic product growth through 2015 and 2016.
The directors believed the group would continue to generate “significant levels of cash” for reinvestment in the business, he said.
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