DESPITE the market dominance of oil majors like Shell, Texaco and Statoil in the Irish petrol and heating oil market there remains a few entrepreneurial independent operators able to operate profitably in what is a brutally competitive business. Clashfern, the holding company for Campus Oil, has carved itself a niche of the market and has ambitious plans for expansion in Ireland and Britain.
The company, with interests in the oil, chemical and storage sector, made a pre tax profit of £2.8 million last year, on a 10 per cent growth in turnover to around £45 million. Latest audited accounts for 1994 show operating profits of £2.3 million on sales of £40.8 million.
Chief executive Gerry McNamara said, this week, the company may soon be in a position to purchase an English oil distribution company which, if successfully concluded, would mark Clashfern's first commercial move outside Ireland. The proposed acquisition would double the size of the existing oil operation. Clashfern, through Campus Oil, supplies petrol to around 100 petrol stations, 25 heating oil distributors and various large commercial and industrial users. The business is valued at around £13 million.
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