J.R. Rix & Sons Ltd sees revenue soar as strong 2017 revealed
By Hull Daily Mail | Posted: 16 Jul 2018
Hull-based family business J.R. Rix & Sons Ltd has revealed a booming 2017 as the company grew turnover by 17 per cent.
Revenue in the business increased by £60m to £407m in the year up to December 31 last year, as profits remained stable at just under £5m.
It was also a strong year for Victory Leisure Homes – owned by J.R. Rix & Sons – which increased its sales by £7m in just 12 months.
Rory Clarke, MD of the family business which dates back more than 140 years, 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.
‘’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.”
An increase in the price of oil was cited as a major factor in the growth of Rix Petroleum – the largest company in the group.
Sales soared to £304m in 2017 – up from £272m the year before – as a weak pound is also believed to be a big player in the growth.
Read more: Rix fuelling growth as it expands into Wales
Rix Petroleum is just one of a series of businesses which make up the Group’s portfolio.
Other companies include Rix Shipping, offshore transport company Rix Sea Shuttle, Jordans Cars and Victory Leisure Homes.
Rix Shipping, which manages the company’s shipping fleet and stevedoring operations in Hull and Montrose, Scotland, saw turnover nearly double across the year from £7.2m in 2016 to £13.6m last year.
Maritime Bunkering’s revenue increased from £25.4m in 2016 to £38m in 2017, and the Group’s car and commercial vehicle retailer, Jordans Cars, reported a slight growth in sales from £23.6m to £25.4m.
Mr Clarke, managing director of J.R. Rix & Sons Ltd, described the performances as solid, and said that the demand for Rix Petroleum’s products was seasonal and affected by the weather, which had been slightly warmer compared to the previous year, with a relatively mild winter.
Holiday home and lodge manufacturer Victory Leisure Homes continued to make inroads into the industry, growing market share significantly and increasing sales from £19.5m in 2016 to £26.5m last year.
The company was bolstered by the strength of the UK holiday market and the weak pound.
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