Applegreen, Jameson, Woodie's and Cuisine de France to take profit hits

Irish forecourt and motorway services station operator Applegreen expects to take a hit to profits this year due to the Covid-19 outbreak, but said it is too early to estimate how much lower profits will be.

The company has also frozen recruitment, scrapped a planned shareholder dividend and postponed bonus payments for executives in relation to its 2019 performance. It is in talks with landlords over rent holidays.

Builders merchanting group Grafton has also flagged a probable hit to revenue and profits and has suspended dividend payments and has not given guidance.

The Woodie’s DIY owner has seen strong demand in its retail business here, but has closed its UK merchanting business, which contribute the majority of group revenues.

Jameson Irish Whiskey owner Pernod Ricard has warned the virus-driven slump in business is set to knock around 20% off its operating profits this year.

Cuisine de France owner Aryzta has warned the virus will impact its financial performance this year. The company said it has seen market conditions deteriorate and has frozen dividend payments.