Jentex in Manston back in profit as it supplies vessels servicing wind farms off Kent coast
Published: 08:00, 30 March 2016
Updated: 10:44, 05 November 2019
A fuel wholesaler returned to profit as it supplied vessels servicing wind farms off the coast of Kent.
Anthony Jenkins Fuel Oil, which trades under the Jentex brand, had suffered losses of £75,000 in 2014 but recorded pre-tax profits of £54,000 in the year to the end of March 2015.
Bosses said the Manston-based firm’s result was satisfactory after announcements on potential wind farm expansions were delayed.
Turnover slipped just below £3 million, down from £3.9 million a year earlier, with other revenue streams coming from its waste oil collection and processing facility, which is the only one licenced in the South East.
It is also contracted by the Port of London Authority to deal with emergency oil spills and recovery in the Thames Estuary and at Kent ports in the English Channel.
However, it may not be able to take advantage of an investment to upgrade its 2,000 tonne storage tanks, making them able to handle aviation spirit.
Planes have not flown from nearby Manston airport since it closed in 2014.
Despite its lower turnover, operating profit reached £98,000 compared with a loss of nearly £30,000 in 2014.
Swedish energy firm Vattenfall carried out a £150 million extension to its wind farm off the coast of Herne Bay and Whitstable last year.
Jentex gained a huge boost in turnover during the construction of London Array from 2011.
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Chris Price