Warm weather dents profits at Highland Fuels

Published on 15/06/2012 00:00

A MILDER winter and rising petrol prices forcing motorists to cut back on journeys have dented the profits at Inverness-based oil distributor Highland Fuels.

Pre-tax profits dropped by 32 per cent in 2011 to £1.2 million, according to accounts filed at Companies House, although turnover edged up by 3.8 per cent to £180m on the back of rising global oil prices.

Following two harsh winters, the milder weather last year meant the amount of heating oil the company sold to customers in rural areas dropped, while profits at the firm’s filling stations “reduced due to pressure on volumes, margins and increases in running costs”.

The owners of the firm’s parent company – Isobel Cruden, Colin McNab and George Shand – shared in a dividend payout of £49,998.