Moto, the UK’s largest motorway services company, has blamed last year’s fall in petrol prices for a £37million drop in turnover.
The company, which has been put up for sale by its shareholders, including Australian bank Macquarie, saw sales fall from £840million to £803million in the year to December 24, 2014.
Sales not including fuel increased by 7.8 per cent, while pre-tax losses fell to £72.9million from £77.6million the year before.
Network: The company owns 40 motorway service stations
Moto, which used to be part of the Granada motorway network and then Compass before demerging in 2006, has 40 motorway service stations across the country plus a few sites on A-roads. It built Britain’s first carbon-neutral services on the A1(M) in Kirk Deighton, North Yorkshire.
Like its smaller competitors Welcome Break and Roadchef, Moto was saddled with huge amounts of debt when it was acquired by private equity and last refinanced in March this year.
Read more: http://www.thisismoney.co.uk/money/markets/article-3132726/Fall-petrol-prices-puts-brake-Moto-revenue-turnover-drops-37m.html#ixzz3ddvGbTPA
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