Fiscal Year Report
Financial Information
Revenue growth since the inception of our operations in October 2019 has been phenomenal. We have performed remarkably against our defined financial targets and been compliant with national industry regulations and global safety standards.
Our sales volume for Gasoline increased by 495% between 2020 and 2021. In the same year Gasoil sales volume grew by 270% whereas Residual Fuel Oil (RFO) sales grew 52%.
RECL entered the Premix market space and recorded sales volume of 9,971 metric tonnes to end the business year. The company recorded a total revenue of thirty-five million dollars for the 2020-21 business year.
RECL aims to grow sales to $150,000,000 of which $50,000,000 is expected to come from emerging export markets in Africa.
