Applegreen Set To Reach FY2016 Targets
Ahead of its upcoming AGM, forecourt retailer Applegreen has issued a market update today (20 May), confirming that the business looks set to reach its expansion and growth goals for 2016.
In a statement, Applegreen management said, "In summary, the Board is very satisfied with the progress and performance of the business for the first four months of the year. This gives us confidence in our ability to meet growth targets for 2016".
In the Republic of Ireland, Applegreen’s trading volumes have seen a positive start to the year, seeing growth in "in all categories, particularly food".
The company has also confirmed plans to bring the Freshii food concept, described as one that "that provides fresh and nutritious meals choices that appeal to people on the go", to its Lusk outlet in June,
In the UK, despite what management calls a "tough competitive landscape", it is encouraged by the growth being reported in food, which it believes indicates at least mid-single like-for-like growth through the period.
Shore Capital’s forecast for Applegreen for FY2016 remain unchanged following the update, with its financial analysts expecting current pretax profit of €20.4 million.
© 2016 - Checkout Magazine by Jenny Whelan.