A NEWTOWNABBEY gaming and amusement company has grown its turnover to £8.5 million, with plans for further expansion and investment in the future.
The directors of Oasis Retail Services have said they are "extremely pleased" after the firm grew its turnover by five per cent in the year ending December 31, 2016. The company further saw an 18 per cent growth in operating profit to £2.3 million and an marginal increase in pre-tax profit.
Oasis Retail Services was founded in 1968 by Gerald Steinberg and operates gaming centres as well as coin operated gaming and amusement machines across the north.
The business has a total of 11 gaming centres, five of which are in Belfast and the remainder at locations in Ballymena, Newtownabbey, Lisburn, Bangor, Coleraine and Newcastle
From small beginnings Oasis is now a significant operation with the main emphasis of its business development being in Northern Ireland. The company employs 129 staff, an increase of two on the 2015 figure, while the total annual wage bill now sits at over £2.5 million.
As a direct result of Oasis' activities during the year payments of almost £2.9 million were paid to HM Revenue & Customs in respect of Machine Games Duty, PAYE and National Insurance Contributions, VAT and Corporation Tax.
In the strategic report accompanying the annual company accounts the director said they were " extremely pleased with the overall performance of the company".
"The company has maintained its period of growth of operating profits."
In the report they further outlined plans for growth, including the prospect of new gaming centres in the near future.
"The company continues to actively seek new opportunities for expansion and investment, in particular the opening of new gaming centres."
