Indie forecourt operator MRH (GB) is to continue to acquire new sites despite double-digit declines in both full-year sales and pre-tax profits.
Pre-tax profits fell 61% to £13.9m, on sales down 20.3% to £1.27bn in the year to 30 September 2012, according to accounts filed at Companies House. However, operating profits rose 9% to £22.7m.
The directors said they expected trading conditions to be “flat with pressures on both sales volumes and margins due to competitors’ pricing promotions and spikes in commodity prices”. But they added the company was “well placed to make strategic acquisitions” and would “maintain its strategy of profitable acquisition”.