Highland fuel distributor Gleaner sees profits rise despite a fall in turnover
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A NORTH fuel distributor’s profits increased last year despite it reporting a drop in turnover.
Gleaner – formally known as Gleaner Oils – has a depot in Inverness which covers the Highlands.
Directors of the Elgin-headquartered firm were happy with progress made by the business and were keen to build on success during 2020 and beyond.
But they outlined principal risks and uncertainties in a strategic report accompanying the firm’s latest accounts for the year ended June 30, 2019.
They stated: “The main uncertainties facing the group are the impact of legislative rises in labour costs, increased regulation costs and increase in competition.
“The continued uncertainty over the timing of Brexit and the implications of a no-deal exit continue to be monitored closely,” the report added.
Pre-tax profit increased from £153,410 in 2018 to £215,632 last year.
For the same period, turnover dropped from £124,010,808 to £122,853,321.
The average number of employees increased from 204 in 2018 to 209 last year, while staff costs rose from £4,700,160 to £4,767,574.
