Topaz Energy – €20m investment programme

Topaz has freed up resources to make a really substantial investment in the business says Emmet O’Neill

Topaz has freed up resources to make a really substantial investment in the business says Emmet O’Neill

The investment will transform the company’s retail network across the country says new CEO Emmet O’Neill.

The company, which operates 330 forecourts with  around 40 in Northern Ireland, is hoping that  the agreed acquisition of the Esso business will be completed before the end of the year.

In a further investment programme due next year the Topaz and ReStore brands across the Irish network of Esso forecourts will be extended.

Topaz reported a pre-tax profit before exceptional items of €2.1m on a turnover of just less than €3bn. When exceptional items of €6.9m are taken into account (mostly associated with restructuring the group’s borrowings), pre-tax losses stood at €4.7m at the end of the period compared to losses of €13.6m for the equivalent period a year earlier.

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