The Co Tyrone-based fuel group LCC has reported a pre-tax profit of £45 million for the last financial year.
The family-run oil and coal operation behind the ‘Go’ filling station chain, posted £1.246 billion in turnover during the 12 months ending March 31 2024.
LCC Group Ltd previously reported a pre-tax profit of £60.2m on a turnover of £1.7bn for the 18 months ending March 31 2023.
Founded as the Lissan Coal Company by Michael Loughran in 1980, LCC has grown into one of the north’s largest family-owned businesses.
Based in the small village of Churchtown, near Cookstown, LCC Group’s interests span the importation and supply of both oil and coal.
But in recent years, it has steadily expanded its presence in the energy and retail forecourt market through its ‘Go’ brand.
Although it remains headquartered in Co Tyrone, LCC Group’s ultimate parent company is now domiciled in the Isle of Man.
In a Companies House report accompanying its latest financial disclosures, LCC Group’s directors said: “The company has continued to consolidate its position as a leading importer and distributor within the coal and oil market in the United Kingdom, Ireland and the wider European market.
“It continued its roll out of ‘Go’ formatted sites. The company is confident of the outlook in terms of sales and profits for the current year and continues to seek out new investment opportunities.”
The report shows the group’s workforce grew to 244 people in 2023/24, up from 205, with total staff costs coming in at just over £10m for the year.
It also reveals dividends of £25.9m were paid to LCC Group’s shareholders in the 2023/24 financial year, compared to £51.6m in the 18 months to March 2023.
The company faced a tax bill of just under £9m in the last financial year, leaving its bottom line profit at £36m.
The report shows LCC Group Ltd ended 2023/24 with a healthy balance sheet of £141.9m in shareholder funds, up from £131.8m in the previous period.
