Forecourt retailer Snax 24 has vowed to keep on the acquisition trail this year despite a downturn in full-year sales and profits.

The retailer, which has more than 100 forecourt stores across the UK and is number 15 in The Grocer's Top 50 rankings, recorded a 47% drop in pre-tax profits to £1.8m for the year to 30 September 2009, on sales down 13.8% to £197m, according to accounts posted at Companies House.

However, directors said it was "continuing to seek opportunities to expand its network and maximise future opportunities".

"The external commercial environment is expected to remain competitive in the next financial year with the industry seeing more closures and disposals of sites," they added.

Snax 24's fortunes are in direct contrast with rival Euro Garages, which posted a 24% increase in profits to £9.1m and a 5% increase in sales to £242.2m in October last year.