Applegreen (APGN)

Applegreen APGN Logo

A major petrol forecourt retailer with operations in the Republic of Ireland, the United Kingdom and the United States

13-Mar-2018 – 485p – £455.6m – PER 20.1

Preliminary Results For The 12 Months To End December 2017 – Revenue up 21% to €1,428.1m, Adjusted PBT up 17.7% to €24.6m, Adjusted EPS up 10.0% to 25.65c and Net Debt at €10.2m (31 December 2016: €19.4m). Grew estate by 99 sites to 342 sites and the Final Dividend will be 0.80c total for the year of 1.40c.

There’s quite a lot to like here, my concern is can it really grow. For that reason I will remain Neutral for now and keep an eye out for updates.

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