Shares in fuel retailer Applegreen rose more that 4% yesterday as it reported a 20% increase in profits for the year to the end of June, compared to the same period last year.

Fuel forecourt retailer Applegreen has said Ireland and Britain remain its key focus despite acquiring 42 new petrol stations and Burger King outlets in the US, a move that significantly ramps up its US operations.

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.

Forecourt retailer Applegreen has reported earnings before interest, tax, depreciation and amortisation of €28.9m for 2015, a 26% rise on the previous year.

Applegreen, the Irish forecourt fuel supplier, plans to benefit from the “grim” reputation of motorway service stations in Britain as it announced a €70m placing of shares and detailed its expansion plans.

Irish petrol station operator and forecourt retailer Applegreen has reported a bumper year with both revenue and profitability comfortably surpassing 2012 levels.