Applegreen PLC AGM Statement and Result of AGM (4151G)
May 30 2017 - 2:01AM
UK Regulatory
TIDMAPGN
RNS Number : 4151G
Applegreen PLC
30 May 2017
Applegreen plc
AGM Statement and Result of AGM
Applegreen plc ('Applegreen' or the 'Group'), a major petrol
forecourt retailer in the Republic of Ireland with a growing
presence in the United Kingdom, provided the following update at
its Annual General Meeting held yesterday:
"Applegreen had a positive start to the 2017 financial year both
in terms of trading and the development of the business.
Our business in Ireland is delivering strong growth in non-fuel
sales in particular while fuel margin experience has been in line
with 2016. We continue to enjoy good growth in UK food sales as we
expand our branded food offering. Overall the trading performance
of the business for the first four months of the year has been in
line with the Board's expectations.
Since 31 December 2016 we have added 16 sites to the estate.
In the Republic of Ireland we have added four new Petrol Filling
Stations ('PFS'), one new Service Area and five dealer sites. In
the UK we have opened three new PFS as well as our latest Motorway
Service Area in Lisburn, Northern Ireland. Our pipeline of new PFS
continues to be strong in both the Republic of Ireland and the
UK.
We have also opened two new PFS sites in the New England area of
the USA and have made very good progress in generating further
opportunities to grow in that region. We have added to our
management team to cater for the growth planned in that region.
We completed six rebrands/ upgrades so far this year including
two former PFS sites in Great Britain that we upgraded to Trunk
Road Service Areas.
The pipeline of Service Areas continues to develop in both
Ireland and the UK. We have a significant number of prospects in
both core markets at various stages of the planning process and are
confident of further expanding our businesses in each
territory.
Subject to shareholder approval, we intend to pay a maiden
dividend of 1.25c per share in June 2017. We committed to a prudent
dividend policy at the time of our IPO and our financial
performance since then warrants this move to deliver further
shareholder value
In summary, the Board is very satisfied with the progress and
performance of the business for the first four months of the year.
This gives us confidence in our ability to meet our growth targets
for 2017."
All of the resolutions proposed at the Annual General Meeting
were duly passed.
For further enquiries, please contact:
Applegreen
Bob Etchingham, CEO / Paul Lynch CFO +353 (0) 1 512 4800
Drury Porter Novelli (Irish media):
Paddy Hughes +353 (0) 1 260 5000
Goodbody
Joe Gill +353 (0) 1 667 0420
Siobhan Wall
Shore Capital
Stephane Auton +44 (0) 20 7408 4090
Patrick Castle
This information is provided by RNS
The company news service from the London Stock Exchange
END
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