The Maxol Group has announced its full year trading figures for 2024. Group CEO, Brian Donaldson confirmed a strong performance following an investment programme of £61 million during the 2023-2024 trading period, bolstered by an additional £41.4m in capital expenditure during 2025. The Group finished the year in a strong financial position, with no net bank debt and a substantial cash surplus.
• 2024 Group turnover was £685 million, an increase of 4% on 2023 (£659 million)
• 2024 Group profit before tax, before exceptionals was £29 million (£27 million in 2023).
According to Brian Donaldson, 2024 and 2025 have been defined by strategic investments, key acquisitions, and smart innovations, as the company expanded its offering with new sites, products and services.
Backed by an ambitious growth strategy, The Maxol Group has made 14 site acquisitions during the 2023-2025 period and redeveloped or retrofitted 27 of its existing sites.
Maxol recently started a £1.5M redevelopment project at Maxol Ballyholme in Bangor. Situated at the junction of Ballyholme Road and Donaghadee Road, on one of the main routes from Bangor to Donaghadee, the service station and SPAR store is operated under license by Maxol’s retail partner, the Henderson Group. The investment project will see the existing shop reconfigured to incorporate a substantial portion of its former storage area, enabling the creation of a new 1,506 sq. ft retail space — an increase of nearly 25% from the previous 1,237 sq. ft. Customers can look forward to an expanded grocery food offer including an extended fruit & veg, dairy, frozen food ranges and a BARISTA BAR. The project will also see the inclusion of a Post Office facility in-store.
The forecourt will be reconfigured and a new canopy put in place. Customer car parking bays will double from the current 6 to 12 and will be located directly in front of the store. Two fuel pump islands will replace the existing three. Pay at pump facilities will be put in place for customer convenience.
Key elements of Maxol’s sustainable forecourt design will also feature in the newly expanded facility including the use of CO2 refrigeration with doors fitted throughout the shop and an LED lighting system will be used throughout the site. The shop continues to trade throughout the re-development and work is expected to be completed in December.
Work to upgrade Maxol Tates Avenue service station, which is situated just off the Boucher Road in south Belfast has been completed. The project included an extension to the existing store increasing retail space to 1,650 sq. ft. The store offers the latest Spar concept with newly installed shelves, counters and lighting, and a wider range of refrigerated and frozen foods.
On the forecourt, car parking facilities have increased to 13 spaces. Maxol has introduced the Maxol Premium Fuel range to enable customers to make greener motoring choices and there is a doubling of fuel pump capacity with the installation of four new eight -fuel pumps and a new two-fuel pump for customer convenience and efficiency. Pay at pump facilities have also doubled from the existing two to four terminals for customer convenience. Further enhancements include new external cladding and branded signage.
An investment of more than £250,000 has been made at Maxol Saintfiield on the Crossgar Road in County Down. The service station has been refurbished with new floors, ceilings and fittings and newly branded signage.
Work will begin in a matter of weeks to refresh the popular convenience offer in-store and enhance the shop’s sustainable features with the installation of CO2 refrigeration with doors fitted throughout the shop. Newly branded signage will complete the new look and feel store.
In other developments, earlier this year, Maxol completed a refurbishment of Maxol Portrush with £118,000 invested to upgrade the popular service station’s shop and forecourt in readiness for The Open Golf.
Maxol has also installed self-serve Carma Coffee at two Auto 24 locations in Northern Ireland. Carryduff Auto24 and Andersonstown Road in West Belfast to enable customers to enjoy on-the-go, barista-quality coffee 24/7.
Brian Donaldson said: “These developments across our network in Northern Ireland are part of our ongoing investment programme to provide our customers with a modern, vibrant and more sustainable retail and forecourt experience. We’re using digital and new technologies to enhance our customer experience, and the continued expansion of our retail space reflects our repositioning as a leading convenience retailer, with food, coffee, grocery and car washing services driving growth.”