Our strategy is to deliver total shareholder returns by the continued profitable development of our businesses through a combination of organic growth, capital investment and selective acquisitions.

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1.
Focus on return on capital

Return on capital employed is a key metric

16.5%

Group ROCE (2023: 27.6%)

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2.
Acquisition opportunities

Solid track record with ambition

7

completed Fuels acquisitions since 2019

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3.
Management and operational capability

Growing to service customer demand

3

new warehouses since 2020

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4.
Asset backing

Strong balance sheet

£237.7m

total assets (2023: 217.6m)

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5.
Strong business investment

Cash invested in development

£8.4m

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6.
Growing dividend

Increased dividend for 13 consecutive years

8.1p

total dividend per share (2023: 7.8p)

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