Hull-based J.R. Rix & Sons generates £407m turnover in ‘solid’ performance

Multi-sector group J.R. Rix & Sons Ltd is celebrating double-digit turnover growth.

The family-owned company, based in Hull, saw its turnover rise 17% to £407m in the 12 months to December 31 2017.

Profits for the period remained stable year on year, falling just short of £5m.

J.R. Rix & Sons Ltd said all its businesses reported an improved performance on 2016’s figures.

The company’s holiday home and lodge manufacturer, Victory Leisure Homes, increased sales from £19.5m in 2016 to £26.5m in 2017, in part thanks to a strengthening of the UK holiday market and the weakened pound.

The weak pound, combined with an increase in the price of oil, also stimulated growth in J.R. Rix & Sons’ inland and marine fuels businesses, with Rix Petroleum increasing sales 11.8% to £304m and Maritime Bunkering by 49.6% to £38m.

Rix Shipping, which manages the group’s shipping fleet and stevedoring operations across Hull and Montrose, almost doubled turnover to £13.6m last year.

Meanwhile, car and commercial vehicle retailer Jordans Cars grew sales 7.6% to £25.4m.

Hailing the results as “solid”, J.R. Rix & Sons MD Rory Clarke said: “Overall Group turnover leapt by £60m with all divisions performing well.

“Although a number of external factors affect the performance of our businesses – the relative strength of the pound, the weather and the price of oil – good governance, keeping a close eye on costs and having a thorough understanding of the environment in which we operate are still key to driving growth.”

He added: “It is particularly pleasing that once again all the operating businesses within the group made a positive contribution to what was a good year for J.R. Rix & Sons.”

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