Saturday 18 November 2017

Week 36: Applegreen and Providence in focus

Applegreen will update investors on its progress tomorrow as it publishes half-year results. Stock photo
Applegreen will update investors on its progress tomorrow as it publishes half-year results. Stock photo
Gavin McLoughlin

Gavin McLoughlin

Petrol station business Applegreen will update investors on its progress tomorrow as it publishes half-year results.

The business has performed impressively since it listed a little over two years ago - making inroads into the UK and US markets via acquisition, and re-imagining the traditional Irish petrol station.

Shareholders were told at the agm in May that the company is performing well this year, and a decent set of results will probably propel the share towards a record high.

It'll be another edgy week for investors in oil and gas explorer Providence Resources as they await an update on drilling activity off Ireland's south-west coast.

The company is drilling the second of two prospects - the first of which held nothing but water - and should be close to revealing the latest results.

It's a high-risk, high-reward play for Providence shareholders, many of whom are nursing large losses.

Statistics due from the CSO this week include July's residential property price index tomorrow and economic growth figures for the second quarter on Friday.

Irish Independent

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