Financial results
During our financial year ended 14 April 2011, we continued to achieve strong sales growth, with sales increasing 36% in value terms and 25% in volume terms. This was in the context of a 1.5% fall in fuel sales in the UK as a whole over the same period.
Consolidated turnover grew to £9.8 billion (£7.2 billion in 2010), representing 9.9 billion litres of fuel.
The group is profitable, returning profits before tax of £13.9 million for the period ended 14 April 2011.
Financial highlights
Our market – changes in the UK downstream oil sector
The UK downstream oil sector is currently undergoing a period of fragmentation, with many of the major oil companies disposing of their UK refining, storage, distribution or marketing infrastructure. This fragmentation is fundamentally changing the way that fuel is supplied to petrol stations
Historically oil companies have been vertically integrated in the UK, refining their own fuel and supplying that fuel to their petrol stations. With the sale of refineries to new entrants without established forecourt brands, such vertical integration is becoming increasingly rare. This is putting pressure on all parties to achieve efficiencies.
Greenergy is well positioned to deliver such efficiencies by managing the provision of infrastructure and logistics between refiner and retailer.
