A Message From Our Chairman
Dear Shareholders,
It is an honour to present the Annual Report of our company – Future Energy Source Company
Limited (“FESCO” or the “Company”) for the financial year April 1, 2024 to March 31, 2025.
The Company has delivered strong financial results, achieving a 20% increase in gross profit
and a 12% increase in net profit attributable to shareholders, year over year. It is the
collective resilience, dedication, and innovation of our team that has contributed to the
Company’s $2.7 Billion book value of equity for the year.
Future Energy Source Company Limited’s performance reflects a year of
both progress and continued
opportunity, demonstrating resilience and agility. The core wholesale and retail fuel
segment has shown consistent profitability, ascribable to the dedication and trust of our
staff, dealers and customers and the reliability of our suppliers and service providers. The
newer liquefied petroleum gas (LPG) segment is still in its early development stage, and the
Company is determined to maximize on the long-term growth prospects of a cleaner, affordable
and more sustainable energy source. The Company will continue to invest in LPG
infrastructure and assets and to raise awareness of our FESGAS brand. The Company through
its governance commitment will continue to see to the sustainability of value creation
across all segments.
We believe in engaging with the communities in which the Company
operates
and has brand presence through its dealers. This includes sharing in community-based
activities and other initiatives meant to be a resource for community members and to
contribute towards their upliftment. Future Energy Source Company Limited acknowledges the
significance of community
partnerships and appreciates the welcoming responses to our brands.
On behalf of the Board of Directors, I express deepest gratitude to
our
shareholders, customers, dealers, our faithful team led by our Managing Director, Jeremy
Barnes, suppliers and other stakeholders for your continued support.
