Wednesday 26 July 2017

Applegreen confirms “positive start” to 2017 ahead of AGM

Ellie Donnelly

Applegreen, the petrol forecourt retailer, has had a positive start to the 2017 financial year both in terms of trading and the development of the business, the company said in an interim management statement ahead of its AGM today.

The company’s business in Ireland is delivering strong growth in non-fuel sales in particular, while its fuel margin was in line with its 2016 experience.

Similarly, in the UK, the company, which has forecourts in over 200 hundred locations across Ireland and the UK, enjoyed good growth in its food sales.

Overall the trading performance of the business for the first four months of 2017 has been in line with the Board’s expectations, the company said.

Read more: Forecourt firms end legal fight over service stations

The company is proposing to to pay a maiden dividend of 1.25c per share this June.

“We committed to a prudent dividend policy at the time of our IPO and our financial performance since then warrants this move to deliver further shareholder value,” Daniel Kitchen, chairman of Applegreen, said in today’s statement.

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