Applegreen has announced that it has traded ahead of expectations in the second quarter of 2020.
In its recently published financial report, the company said that it has remained profitable, at an earnings with interest, taxes, depreciation, and amortization (EBITDA) level.
The forecourt retailer highlighted that its Welcome Break business traded in line with management's expectations for the second quarter, and trading continues to improve as restrictions are lifted.
'Strong Store Sales'
The remainder of the Applegreen estate traded ahead of management's expectations, aided by strong store sales in the local petrol filling station sites, good fuel margins, and extensive cost saving measures, it added.
As of 30 June 2020, the group said that it had consolidated net external debt of approximately €550 million, comprising approximately €110 million of cash and €660 million of external debt, which includes Welcome Break facilities that are non-recourse to the wider Applegreen group.
The company's annual general meeting is expected to be held at 11.00 am on Tuesday, 1 September 2020.
© 2020 Checkout – your source for the latest Irish retail news. Article by Donna Ahern. Click sign-up to subscribe to Checkout.