Applegreen profits and revenues soar in first half of 2019

Applegreen profits and revenues soar in first half of 2019

What a week.

It's been a tumultuous week for Applegreen but it's certainly ending on a high for the fuel forecourt and service station operator.

The company has reported a big jump in revenues and profits for the six months to the end of June as it continues its expansion in Ireland, the UK and the US.

The company published interim results for the first six months of the year on Friday and saw group revenue increase by 73% on the same period last year to €1.5 billion.

In Ireland, revenue increased by 14.1%  and gross profit increased by 11.8%.

The company has been in the headlines in Ireland this week after a video emerged of rat in the deli area of an Applegreen store in Dublin.

Applegreen Cherry Orchard has been temporarily closed as a result of a “a pest control issue”, which came to light after footage widely shared on social media showed a rat emerging from an open loaf of Brennan’s bread in the deli area of the store.

In a statement issued to JOE on Thursday, an Applegreen spokesperson said: “Our Cherry Orchard site has been temporarily closed following a pest control issue.

“We are conducting a full investigation into the incident, which falls well below our high operating standards.

“The health and safety of our customers is our first priority and we are taking this issue extremely seriously.”

Commenting on the revenue results for the first half of the year on Friday, Bob Etchingham, CEO said: "We are very pleased with our trading performance during the first half year especially from our core Applegreen business. Further initiatives were taken to further develop the business, including recently announced acquisitions in the US."

"Our primary focus in the immediate term remains the delivery of further synergy benefits from Welcome Break, which we now expect to be significantly larger than our previous expectation, and the integration of recent US acquisitions, whilst continuing on the deleveraging trajectory for the Group."