Applegreen Announce Half-Year Revenue Increase Of 7%
Published on Sep 6 2016 9:51 AM
Irish forecourt retailer Applegreen has today reported a 7.4% jump in revenue for the first six months of 2016, a rise that the company associates with 'particularly strong' growth in Ireland and a surprisingly good performance in the UK post-Brexit.
In Ireland, Applegreen now has 153 sites, which is a year-on-year growth of 35%. Despite a large number of these sites being dealer-only sites, total gross profit in Ireland grew by 20% year on year as higher-margin food and store segments increased the contribution to Irish profits.
There were similar positive perfomances for Applegreen in the UK, with the addition of two new motorway services in Northern Ireland playing a significant role. Gross profits in the UK grew by 18% while like-for-like food gross profit increased by 15.9%.
The company saw gross profit growth of 20.4% and adjusted EBITDA growth of 15% thanks to these new sites, combined with the increased contribution from the higher-margin, food-to-go business.
© 2016 - Checkout Magazine by Niall Swan