Ireland: Applegreen enjoys profit increase amid network expansion
Irish fuel retailer Applegreen has reported pre-tax profits of €17.7 million, a 22% increase, as it continues its network expansion.
The company opened 48 new gas stations last year in the UK, Ireland and United States following a policy of non-risky, steady expansion that has made it the Republic of Ireland´s largest independent forecourt retailer.
Applegreen expanded to a network of 200 gas stations in 2015 as it finished the year with positive all-round results: earnings before interest tax depreciation and amortisation rose 26% to €28.9m while its gross profit jumped 30% year on year to €125.9m, reports the Belfast Telegraph.
The company is also eying further expansion in the US market. "We've always said that one of the advantages of going to the States is that it will allow us to develop relationships with people that we wouldn't come across on this side of the pond," he told the Irish Independent,” chief executive Bob Etchingham told the Irish Independent.
