Sales soared above £250million at a long-established fuels business in Greater Manchester, with directors expecting the positive trend to continue.
Crown Oil, headquartered in Bury, established over 70 years ago, is an independent family business supplying products throughout the UK to domestic and commercial customers.
For the year to July 31, 2021, Crown Oil recorded revenue of £256.8m and an increase of more than 11% on the previous period’s £230.8m .
Pre-tax profits fell from £11.2m to £25.6m, a strategy report accompanying the results revealed.
In a statement, the group said its main area of growth had been the import and supply of plant-based fuels, in particular hydrotreated vegetable oil (HVO).
“Crown Oil has quickly grown to become a market leader in alternative energy, helping the UK move to a net zero economy. The company has seen a huge increase in demand for plant-based alternative fuels in replacement of standard fossil fuels”, mentioned.
“That momentum has continued in the current year as existing and new customers turn to Crown Oil to provide sustainable fuels that have a much lower impact on the environment.”
The company said it now sees further growth in the alternative fuels market.
“As the UK’s leading supplier of sustainable fuels, the company is investing in additional storage capacity across the country to meet current and future demand,” he added.
“The company is confident that by continuing to import, market and supply plant-based fuels, it will experience significant future growth in the alternative fuels market.”