Business

Profits at cooking oil firm Frylite return to six-figures

Cooking oil firm Frylite operates from headquarters in Strabane

PROFITS at Tyrone cooking oil company Frylite returned to six figures as it reported £1,013,719 before tax.

The Strabane firm supplies, collects and recycles cooking oils for customers in Ireland, Britain and Europe.

The company works with a network of 7,000 customers include many leading names and can list the likes of KFC, Hilton Hotels, Burger King and TGI Fridays among its clients.

The figure for the year to March was 3.7 per cent up on 2015 and represented a much improved performance after profits almost halved the previous year.

Turnover was up slightly to £28.6m from £27.5m.

Frylite was founded in 1988 by its current managing director Eamon McCay.

With 204 on its books (10 up on 2014) the company is among Strabane's largest employers.

They overall wages bill also increased over the year to £5.2m against £4.9m for the previous 12-month period.

Directors meanwhile were paid a combined £169,666 including pension contributions.

In 2013 Frylite received Jobs Fund support from Invest NI for 19 new jobs as part of a £2 million investment to build a new waste oil treatment plant, develop new washing and drying technology and enhance its marketing activities.

In addition to its Strabane headquarters, the firm has depots across Ireland based at Dublin, Galway and Cork.

Mr McCay set to company up in 1988 when he saw an opportunity to professionalise an industry which the firm said up to that point was characterised "by poor service levels, inferior product quality and widespread customer indifference".

The company said over its almost three decades in existence, it had become regarded as Ireland's "re-eminent vegetable oil supplier and collector both in terms of product quality and customer service".

Enjoy reading the Irish News?

Subscribe now to get full access

Business