Profits at Maxol parent company climb 30%

The parent company of Irish-owned oil company Maxol Ltd had an increase of close to 30% in net profit last year as it continued to take advantage of what is termed in its annual return as “the opportunities resulting from the recession”.

Profit after taxation of McMullan Brothers Limited — the parent company of Maxol — climbed from €2.87m to €3.99m last year.

A dividend of €1.36m was paid to its directors Noel, Malcolm and Max McMullan — the same as that paid the previous year.