Pre-tax profits boost for Applegreen
The public limited company, which employs 3,000 staff in its service stations and in its subsidiaries, saw revenue rise by 9% during 2016, while pre-tax profits increased by 40%, to €19.5m.
The sale of motor fuel accounted for €515.7m of its total revenue last year, representing an increase of 9.2% compared to 2015.
There was a gross-profit margin of 6.3% on sales of fuels.
Applegreen’s food sales amounted to just over €68m in 2016 — an increase of 22% from the previous year — on which there was a gross-profit margin of 58%.
Other sales in its forecourt stores accounted for €109.7m, representing a 29% rise compared to 2015.
The gross-profit margin in respect of these sales was almost 29%.
The company paid corporation tax of €2.28m on its profits last year.
The number of employees working for the company, and its subsidiaries, increased to 2,908 during the same period.
These were paid €58.33m in wages, excluding social-security benefits and pension costs.
Applegreen’s board of seven directors were paid a total of €1.58m last year — a rise of more than 17.4%.
The directors also proposed to pay a dividend of 1.25 cent per share, amounting to €1m in total, subject to approval by the company’s shareholders.
Since the end of its financial year, on December 31, the group has opened two new company-owned sites in Ireland, two in the US, four in the UK, as well as five new dealer sites.
It had 155 sites in Ireland at the end of last year, 11 in the US, and 77 in the UK — a market it entered in 2008.
The company sold €92m of shares in an initial public offering in 2015.
It placed a further 8,082,105 shares on the stock exchange in September, raising €46.9m for the group.
Chief executive, Bob Etchingham, said the funds will ensure that Applegreen is well-positioned to continue to invest in opportunities for growth across its three markets.
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