Tyrone fuel company looks to Europe for opportunities

Business news
Business news

Cookstown based coal and oil company LCC Group is looking to Europe for opportunities to build on the £10m it managed to add to its turnover last year.

Following major expansion in recent years the company reached sales of £543.7m as it expanded into renewables such as electricity, and also gas at fuel stations under the Go brand.

Revenue at LCC (formerly Lissan Coal Company) for the year to September 2015 was up 2.4 per cent on the previous 12 months, but an increase in the cost of sales saw profit before tax fall 14.5% to £17m.

In a strategic report filed with Companies House, directors said they were seeking new opportunities in Europe to aid further expansion of the company.

The report stated: “During the year, the group maintained its position as a leading importer and distributor within the coal and oil market in Ireland and sought to open new markets for its products by establishing a branch in Belgium.

“The group increased its share of the non-domestic electricity supply market in Northern Ireland, attracting many new customers during the year. The group also successfully established their presence in the non-domestic gas supply market in Northern Ireland.”

In the last year on record the number of staff at LCC grew from 153 to 176 and its wage bill was almost £5.3m.

Directors took home a total of £317,554 including pension contributions.

The highest paid member of staff earned £122,147.

Notes with the accounts also detail £400,000 in dividends paid during the year to directors.

Family-owned company LCC was first established in 1980 and was initially set up to provide domestic coal to homes in Northern Ireland.

It now supplies coal, oil, electricity, gas and logistics services to homes across the UK and industry all over the world.