Applegreen earnings surge 26% amid expansion drive

Petrol and food retailer Applegreen said its strategy for steady but non-spectacular expansion is paying off, as it reported a 26% rise in earnings.

The steep fall in crude oil prices and the strong value of the sterling against the euro had little effect on its forecourt sales and profits.

It opened 48 outlets in Ireland, Britain, and the US last year and has plans to add the same number of forecourts to its operations this year. The company said it would seek to continue to expand in Long Island, where it has eight forecourts.