5 Jun 2019 07:00
Applegreen plc
AGM Statement
Applegreen plc ('Applegreen' or the 'Group'), a major Roadside retailer with Service Areas and Petrol Filling Station operations in the Republic of Ireland, the United Kingdom and the United States is holding its AGM today at 10.00 a.m. at the Herbert Park Hotel, Merrion Road, Dublin 4.
At the AGM, Daniel Kitchen, Chairman of Applegreen, will make the following statement:
"Trading for the overall Group has been in line with expectations for the first five months of 2019. The legacy Applegreen business is performing strongly year on year notwithstanding prior year comparators were negatively impacted by adverse weather events. We are pleased with the performance of the business in Ireland where trading conditions remain good. In the UK, the performance of Welcome Break has been satisfactory despite more challenging trading conditions in 2019 as ongoing uncertainty surrounding Brexit has impacted on consumer sentiment. The management team has successfully integrated this business and we continue to progress with the delivery of synergy benefits. The US business is performing well and we continue to explore new opportunities in this market.
The Group has continued to selectively invest in quality sites with strong return potential with a total of nine sites being added to the portfolio since 31 December 2018. Six new sites were added in the Republic of Ireland and three new sites in the UK. We also converted a further two sites in the US to 7-Eleven convenience stores.
Subject to shareholder approval, we intend to pay a final dividend of 0.91c per share on 28 June 2019 to shareholders on the register on 7 June 2019. This will bring the total dividend for the financial year 2018 to 1.54c per share."
For further enquiries, please contact:
Applegreen
Bob Etchingham (CEO) +353 (0) 1 512 4800
Niall Dolan (CFO)
Drury Porter Novelli
Paddy Hughes +353 (0) 1 260 5000
Shore Capital
Stephane Auton +44 (0) 20 7408 4090
Patrick Castle
Daniel Bush
Goodbody
Joe Gill +353 (0) 1 667 0420
Siobhan Wall
Richard Tunney