Maxol today announced a €100m investment in the redevelopment of its service stations nationwide over the next two years and said it was on track to post double digit profit growth for 2018. 

The family-owned forecourt and convenience retailer, which is nearly 100 years old, had already invested €128m in its network between 2012 and 2017.

This year the company, owned by the McMullan family, will invest €37m in its network around the country.

This includes redevelopments in Maxol Enniscorthy, Maxol Dolphins Barn in Dublin and Maxol Clarecastle in Co Mayo, which is scheduled for completion in August. 

In Dublin, Maxol has recently completed redevelopments at Harold's Cross, Turvey in North Country Dublin, the M3 at Mulhuddart, Ballycoolin, Mespil Road, Lucan and Adamstown.

Plans for the new-look at Maxol Sandyford are due to be completed in June.

The company has also launched its new coffee brand – ROSA. Roasted in Ireland, the blend contains 100% Fairtrade Arabica coffee beans and follows a €1.7m investment in the brand.

Maxol is also set to launch a number of own-label products this year, including own-brand milk, water, firelighters and fire logs. This is in addition to a new pre-packed sandwich range launching in May.

Maxol said the food service market is currently worth €7.8 billion and is expected to reach €9 billion by 2020.

"Maxol operates in an incredibly competitive market so we're constantly looking at ways we can redesign and reshape our model to future proof our business, with the main aim of transforming from being a fuel provider to a full convenience retail fuel offering," the company's CEO Brian Donaldson said. 

"This hasn’t happened overnight – we have been investing heavily in the redevelopment of our service stations right across Ireland for the last number of years and the hard work is paying off, leading to strong trading performance," he said.

"Maxol remains as ambitious as ever and we are constantly looking at ways we can differentiate, diversify and evolve," he added.

Latest figures for the company showed a 2017 turnover of €607m and €13.6m profit and Mr Donaldson confirmed that Maxol had another successful year in 2018 with double digit growth to profits.

Maxol is also ensuring its forecourts have an infrastructure in place to support greener motoring. 

By the end of this year, it is planned that up to six of Maxol's service stations in city centre locations in Dublin, Cork, and Galway will have charging points.

Mr Donaldson said that Maxol serves the communities of Ireland rather than relying on passing traffic on the motorways or dual carriageways. 

"Our service stations are run by local people for local people, employing local people and that has been our business model for almost 100 years," he added.