The privately- owned oil and chemicals storage group, Clashfern Holdings, has made its first move into the British market with the acquisition of the Essex-based storage group, Oikos, for £7 million sterling.

Oikos had pre-tax profits of £1.6 million sterling last year and net assets of £5 million. Clashfern says Oikos profits in the current year are expected to be around £4 million. Clashfern itself, which owns the Campus Oil petrol brand, had profits of £2.8 million last year and is expecting £3.5 million in 1998. The addition of Oikos means that the group's pre-tax profits for the full year will be about £7.5 million. Clashfern's interests also include chemicals manufacturer, Micro-Bio; chemical equipment supplier, Alkem; and two storage operations at New Ross, Co Wexford and Cork.