Profits rise at Angus fuel distributor

An Angus fuel distribution company founded more than 60 years ago has seen pre-tax profits rise by 14%

Carnegie Fuels, based at Brechin Business Park, saw turnover increase from £23.1 million in 2018, to £24.1m for the year ending June 30 2019.

Pre-tax profits rose from £411,335 to £469,509 over the period, an increase of 14.1%.

Carnegie supplies kerosine, tractor diesel and derv to domestic, agricultural and other commercial users in the Mearns, Angus, Perthshire and Fife, as well as ancillary equipment such as new fuel tanks and fuel security alarms.

In 2015, the company moved from its location at the former RAF Edzell base, which was bought from the Ministry of Defence in 2000, to its current location, closer to the A90 road network and larger Angus population centres.

At the same time, the firm diversified by opening a Driver Vehicle Standards Agency for HGV and public service vehicles authorised test unit at the new site, along with servicing and repair services.

The company also uses its fleet to provide haulage services covering the whole of the UK.

Over the accounting period, average staff numbers rose by two, to 25, bringing a salary and associated costs bill of £891,763.

The cost of sales rose from £20.5m to £21.1m, an increase of 3.3%.

The firm was founded in 1957, by David Carnegie near Laurencekirk as an official Esso distributor and became a fully independent fuel supplier in 1981.

Director Kevin Carnegie in the firm’s yard in Brechin.