JR Rix & Sons reported a drop in group turnover to £531 million in 2024, down from £591 million the previous year, as lower oil prices and reduced demand in the UK holiday market weighed on performance.
Gross profit declined to £37.5 million from £43.2 million, while profit before tax halved from £4.8 million to £2.4 million.
The group’s leisure homes businesses – Victory Leisure Homes and Prestige Leisure Homes – both recorded losses, reflecting weaker consumer demand for UK holiday properties. Petroleum operations also saw reduced profitability due to lower oil prices.
Windfarm-related activity slowed, impacting Maritime Bunkering, the group’s marine fuel supplier, and Rix Shipping, which operates a fleet of offshore workboats. Both divisions experienced reduced turnover and profits.
Rix Renewables delivered a stronger performance, recording a 100 per cent increase in revenue and a 520 per cent rise in profitability through its managed services for onshore and offshore wind projects. The group’s investment property portfolio also remained resilient, maintaining high occupancy and steady returns.
“Whilst significant headwinds were encountered in 2024, we have made good progress in many areas into 2025, to simplify and streamline the business,” said James Doyle, Group Managing Director.
