An Aberdeen-based fuel additives company has reported a 20 per cent leap in turnover in the past 12 months thanks to product expansion and a strategic trading partnership.
Fueltone, which provides fuel additives and engine treatments for domestic and commercial vehicles, has reported a year-on-year turnover increase from £570,000 to £684,000 for the year ended 31 July.
The company has grown its range during the period to provide products for both petrol and diesel cars and vans, as well as a specialist product for motorcycles, all of which are supported by the Scottish Motor Trade Association.
It has also introduced its offering to a wider audience by entering new markets, such as fleet and commercial vehicles, agricultural and plant vehicles, and equipment.
Over the past year the firm has added 150 new stockists, bringing the total to some 450 locations in the UK.
The company plans to develop an online selling function and is currently undertaking trials in international markets aimed at the heavy goods and general logistics markets.
Charlene O’Conner, chief executive of Fueltone, said: “Our strategy to introduce a new product range into a busy and competitive market was a brave choice but by differentiating and leading with innovation and quality we have been a disruptive force amongst the market leaders in the UK.
“It has taken time and investment but these actions are now bearing fruit.
“As brand awareness continues to grow we are bringing forward e-commerce functionality on our website but, uniquely, we will drive the fulfilment of that business into our distribution chain.
“That way our loyal stockists will also benefit from our efforts to capture a higher proportion of online business.”