'Confident' Applegreen reports rise in revenue

Applegreen has reported a rise in group revenue of 27% to €855m for the first six months of the year to the end of June.

The fuel and forecourt retailer's adjusted pre-tax profit was unchanged from 2017 at just over €10m, with like-for-like growth of 3.5% in non-fuel gross profit.

Applegreen recently entered into an arrangement that would see it holding a majority stake in UK motorway service area operator, Welcome Break.

Bob Etchingham, CEO of Applegreen said: "The business continued to expand in each of our three markets as we increased our estate by 26 sites to a total of 368 locations trading at the end of the period.

"We opened seven new sites in the Republic of Ireland, 15 in the UK and four in the US in H1 2018.

"Our financial performance for the first six months has been robust, notwithstanding the difficult trading conditions caused by the exceptional weather in March, especially in our Irish business.

"Apart from the impact of this one-off event, the underlying business continues to perform well and we remain confident in the prospects for the business in 2018."

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