Retail and fast food boost profits for Blackburn-based business
Growth in convenience retail and fast food sales boosted revenues at Blackburn-based Euro Garages, w…Growth in convenience retail and fast food sales boosted revenues at Blackburn-based Euro Garages, who run service stations and associated franchises.
Latest annual trading figures showed sales for the Beehive Trading Park-based group rose three per cent to £314million in the 12 months to July 31.
It said sales at its Spar convenience store network increased 2.5per cent while its fast food franchises, which include Starbucks, Subway and Burger King, were ahead by 10per cent. Combined, non-fuel revenues accounted for £55m of turnover.
The business, which operates predominantly BP-branded forecourts, said fuel volumes were marginally behind last year, although remained ahead of the overall market, which is showing a reduction of around 10per cent.
Non-fuel sales were also responsible for a rise in profit to £13m while the group’s continued expansion created 350 new jobs over the 12 months, taking its employee base to 1,150.
The business, which last year announced a five-year deal with Starbucks to open 100 drive-throughs, also said its roll-out plan was firmly on track with 20 outlets trading.
The group said it had built a significant pipeline of site acquisition opportunities which it would be pursuing in the current financial year.
Major redevelopments at sites in Kettering and Yorkshire are set to be completed next year.
Managing director Moshin Issa said: “Retail and fast food continue to represent a significant growth opportunity for our business and have been a driving force behind the increase in sales and profit performance in the last financial year.
“This, combined with new innovations on the forecourt, remains a primary focus as we continue to expand across the UK in 2013 and beyond.”
