Fareplay keen to make acquisitions

FAREPLAY Energy, the forecourt retailer and fuel distribution company, has said that it is keen to make complementary acquisitions when the opportunities arise.

The company used to form part of Statoil’s Irish operations, but is now part of the Topaz Energy group after that business bought Statoil’s Irish-based interests for €285 million just under three years ago.

It made the statement in its latest set of accounts filed with the Companies Registration Office.

The accounts, which cover the 17-month period between October 31, 2006 and the end of last March, showed that by the end of that period the company had generated a pre-tax profit of €108m.

Turnover for the period amounted to €1.74 billion, while shareholders’ funds amounted to €112m and the company’s fixed and current assets totalled €362m.

A dividend of €1.92 per share was paid to shareholders for the 17-month period.

Gross profit, as of last March, amounted to €63.1m, while operating profit came in at just more than €18.5m.

After-tax profits for the period amounted to €105.9m.