Applegreen Posts 20% Profit Increase
Published on Mar 14 2017 10:35 AM
Applegreen has posted a profit increase of 20% at constant currency levels for 2016, according to its preliminary statement of results it published today (14 March).
The forecourt retailer also posted a revenue increase of 9% to €1.18 billion and its adjusted EBITDA increased by 11% from €28.9 million in full year 2015 to €32.0 million in full year 2016.
According to Bob Etchingham, chief executive, “We are pleased to report another strong set of results for the business. Our food and store sales were particularly strong in the Republic of Ireland during the year while the UK had a good performance in the second six months.
"Fuel margin was impacted by the rising oil price and in Ireland by the rising proportion of fuel card of the total fuel volume." Etchingham added.
Looking forward to 2017 Etchingham outlined that in relation to the Irish market so far its 'core Irish market is delivering good growth in non-fuel sales in particular while fuel margin experience has been in line with 2016.'
© 2017 - Checkout Magazine by Donna Ahern