APPLEGREEN SERVICE STATIONS nearly doubled their profits last year despite what the company says are tough conditions in the fuel trade.
The brand’s parent company, Petrogas Global, increased its turnover last year to €804.5 million from €717.3 million in 2012 as it continued a quick rollout of new outlets.
The firm had 75 Irish service stations running at the end of last year, but it has since opened another 17 sites in the Republic.
In the UK, Petrogas runs 53 service stations under the Applegreen brand and it recently established a foothold in the US with 2 new outlets on the east coast within the past 6 months.
Against a “tough trading environment” in both Ireland and the UK, and lower profits on fuel, the company’s pre-tax profit hit €10.1 million – up from €5.8 million the previous year.
Earlier this year the company announced it was recruiting another 360 staff across the country as it launched new outlets in Wicklow, Birdhill in Co Tipperary, Swords in Dublin and Lemybrien in Co Waterford, among other sites.
Low price strategy and burgers helping trade
The company’s operations director, Joe Barrett, said Applegreen had “traded well in tough conditions” thanks to its “low fuel prices always” strategy and food-and-drink partners like Burger King, Subway and Costa Coffee.
The combination of motorway super service stations, selective greenfield developments on major trunk routes, acquisition and re-branding of smaller sites and the broadening of dealer agreements with independent operators gives us a strong growth platform,” he said.
Retail fuel prices have been falling recently as the glut of oil production, which has led to cheaper commodity prices, begins to filter down through the system.
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