Copyright newsletter
The Maxol Group has announced a robust trading performance for 2024, highlighting a period of strategic growth and innovation across its network of service stations in Northern Ireland. Group CEO Brian Donaldson confirmed that the company delivered a turnover of £685 million in 2024, up 4% from £659 million in 2023, with profit before tax (excluding exceptionals) rising to £29 million from £27 million the previous year. The group closed the year with no net bank debt and a substantial cash surplus, reflecting the success of a £61 million investment programme during 2023–2024 and a further £41.4 million of capital expenditure in 2025. 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. 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.” With an estimated 784,000 cars passing through a Maxol car wash in 2025, Maxol is taking steps to redefine what it means to deliver for customers beyond fuel. Car wash has become a critical and growing part of the operation, with Brian Donaldson explaining that it is a core service that strengthens customer loyalty and reputation, while driving repeat visits. Recognising the evolving expectations of motorists, Maxol is rolling out an American-style conveyor car wash technology representing a major leap forward in speed, quality, and customer experience. This innovative car wash system is already operational at two Maxol stations in Dublin, following the company’s acquisition of sites in Spawell and Coolquay earlier this year. Planning applications for the conveyor car wash system that combines advanced automation with precision will be made shortly for five of Maxol’s existing sites in Belfast, Londonderry, Limerick, Cork, and Dublin. Car wash is one of several areas where Maxol is setting new benchmarks for service and innovation within the forecourt sector and Brian Donaldson said: “This expansion underscores our commitment to innovation and customer satisfaction, and I believe this will help position Maxol at the forefront of the next generation of forecourt retailing.” Brian said that as part of Maxol’s ongoing growth strategy, the company is actively exploring opportunities to diversify the business through investments in both complementary and non-complementary sectors. He continued: “As our core business evolves, we are looking at ways in which to diversify our offering and have an open mind as we begin the process. "Our future offering could encompass anything from speciality foods, wholesale operations and additional quick-service restaurants to car parts, vehicle or truck sales. We’re open to exploring a wide range of opportunities and as long as a business is well-established, well-managed and high-performing with strong prospects for growth, we’ll consider it as part of our diversification strategy.” Maxol uses AI and similar tools to help improve efficiencies by removing some of the routine tasks that have been historically labour intensive such as fuel pricing, automatic stock replenishment and forecasting models. Brian explained that Maxol has embraced AI in the business and is currently using Generative AI in Marketing, forecast models, HR, and Desk Research: “I believe AI can play a positive role in our business but only if it is used appropriately and we have clear rules on who, what and where it can be used. “We have developed AI policies around data protection and risk mitigation, and already it has helped enormously, eliminating some of the day-to-day administrative burden, allowing us to focus on the people-led side of the business. We see AI as a tool to help serve our customers better.” Notwithstanding the growth and innovation within the business, Brian Donaldson highlighted challenges impacting the forecourt retail convenience sector, and the economy more broadly, including a more cautious consumer, a slower transition to EV adoption and the rising cost of doing business. “The UK Government’s ambition to ban internal combustion engine vehicles by 2030 is widely viewed as ambitious, with the shift to EVs happening more slowly than anticipated,” stated Brian. Market share of BEVs grew from 11.9% to 16.9% year to date August 2025¹, so while there is growth – the figures provide a clear signal that challenges remain. He added: “The challenges for consumers include the up-front purchase price while for our business, challenges are the same as they have always been, such as the urgent need for grid reinforcements to support large-scale electrification and faster planning decisions to accelerate the rollout of charging infrastructure. "While hydrogen remains prohibitively expensive for motorists, alternative fuels such as biofuels and hydrotreated vegetable oil (HVO) are emerging as realistic transition options, particularly for commercial drivers. Meanwhile, consumers are taking a cautious approach, with many opting for hybrid vehicles as a stepping stone towards full electrification. Hybrids and plug-in hybrids represent about 22.6% of new car registrations in Northern Ireland, a factor that policymakers and industry leaders can no longer afford to overlook when it comes to setting targets and incentivising the market.” Maxol believes that the opportunities for HVO in motoring, agriculture and aviation are significant, but that the government needs to reduce the duty on sustainable fuels to help encourage and grow adoption. While Maxol’s investment strategy includes the roll out of more ultra rapid EV hubs and chargers, building on the existing three dedicated EV hubs and 10 standalone chargers across the island of Ireland - Brian confirmed that the slower move to EV adoption is impacting the pace at which the business is developing its EV charging network. Maxol would like to see the cost of doing business addressed more keenly by government, particularly for small businesses, many of which are being challenged by rising energy and insurance costs together with the cost of labour. He explained: “Like other businesses, Maxol isn’t immune to the increased cost of labour while also contending with volatile energy prices, triggered by geopolitical instability. Rising insurance and other operational costs, alongside additional regulatory burdens, are intensifying cost pressures. Doing business has become more complex and more expensive and there is a real need to bolster support for existing businesses, and start-ups in particularly, to help foster innovation and drive positive market dynamics.” Brian confirmed that he was looking ahead to 2026 with confidence amid further plans for growth as part of The Maxol Group’s five year, £168m investment strategy (2023-2027), with a particular focus on food, retail convenience and car wash services. “We will continue to innovate with redeveloped modern sites and digitised services to create market-leading service stations,” he said. Maxol has identified several development projects across Northern Ireland where the business has plans to bring fresh, modern, convenience-led forecourt facilities to local neighbourhoods and their communities. At Maxol Cherryvalley in East Belfast, Maxol has plans to extend the award-winning local community hub with a shop extension while the forecourt will see the expansion of car parking facilities and the addition of new EV charging points. At Maxol Auto24 Hazelbank on the Shore Road in Belfast Maxol is planning to build an innovative mobility hub with a new facility offering convenience, freshly prepared food and an enlarged new state-of-the-art forecourt with pay at pump facilities, a new American-style conveyor car wash centre and an EV charging Hub will be introduced. Finally, Maxol will be submitting plans soon to develop a new concept hub complete with quick service restaurant, a new American- style conveyor wash and EV charging hub with up to four rapid EV charging points at Glendermott Road in Londonderry. “Notwithstanding our position as a modern, dynamic, technology and data-led business, our values as a family-owned business will continue to guide our decision-making, and we will focus on servicing local communities and working with local people who understand local dynamics.”
