United Refining Reports Record Year
WARREN, Pa. -- United Refining Co., operator of 372 Kwik Fill, Red Apple and Country Fair convenience stores based here, saw record numbers for its fiscal 2006 year.
This year's net sales for the company, ended Aug. 31, totaled $2.437 billion, a $546.9 million increase over fiscal 2005. The almost 30 percent increase in sales was primarily due to increased retail petroleum volume and merchandise sales, as well as an increase in refinery crude throughput, the company stated.
"We had solid inside growth as far as sales go," Paul Rankin, VP of retail marketing for Country Fair, told CSNews Online. "Foodservice is a key factor which was strong during the last year -- cigarettes as well."
The company's net income was $64 million, a leap from its $9.9 million recorded in fiscal 2005. Earnings for the company increased more than $90 million to $150.3 million.
"It's pleasing to see in a highly competitive environment, we met our numbers and exceeded the prior year's," Rankin added.
For the company's Country Fair convenience stores, next year holds a year of innovations never having been done before by the chain. New locations that feature drive-thrus for foodservice, along with a sit-down dining area and touch screen ordering are being rolled out, Rankin told CSNews Online.
United Refining operates a 65,000 barrel per day refinery based in Warren, Pa., along with more than 370 Kwik Fill/Red Apple and Country Fair gasoline and convenience stores located in Western New York and Pennsylvania.
This year's net sales for the company, ended Aug. 31, totaled $2.437 billion, a $546.9 million increase over fiscal 2005. The almost 30 percent increase in sales was primarily due to increased retail petroleum volume and merchandise sales, as well as an increase in refinery crude throughput, the company stated.
"We had solid inside growth as far as sales go," Paul Rankin, VP of retail marketing for Country Fair, told CSNews Online. "Foodservice is a key factor which was strong during the last year -- cigarettes as well."
The company's net income was $64 million, a leap from its $9.9 million recorded in fiscal 2005. Earnings for the company increased more than $90 million to $150.3 million.
"It's pleasing to see in a highly competitive environment, we met our numbers and exceeded the prior year's," Rankin added.
For the company's Country Fair convenience stores, next year holds a year of innovations never having been done before by the chain. New locations that feature drive-thrus for foodservice, along with a sit-down dining area and touch screen ordering are being rolled out, Rankin told CSNews Online.
United Refining operates a 65,000 barrel per day refinery based in Warren, Pa., along with more than 370 Kwik Fill/Red Apple and Country Fair gasoline and convenience stores located in Western New York and Pennsylvania.