Applegreen PLC AGM Statement (4137Q)
June 06 2018 - 2:00AM
UK Regulatory
TIDMAPGN
RNS Number : 4137Q
Applegreen PLC
06 June 2018
Applegreen plc
("Applegreen" or the "Company")
AGM Statement
Applegreen plc ('Applegreen' or the 'Group'), a major forecourt
retailer with operations in the Republic of Ireland, the United
Kingdom and the United States is holding its AGM today at 11.00
a.m. at the Herbert Park Hotel, Merrion Road, Dublin 4.
At the AGM, Daniel Kitchen, Chairman of Applegreen, will make
the following statement:
"Applegreen had a positive start to the 2018 financial year with
trading results continuing to improve on the prior year. The severe
weather in March however affected business across all our markets
but particularly in Ireland, while recent international fuel price
increases have adversely impacted on fuel margins.
The Group has continued to invest in the estate with a total of
24 sites being added to the portfolio since 31 December 2017. Seven
new sites were added in the Republic of Ireland, 14 new sites in
the UK and three new sites in the US. Two of the new sites in the
Republic of Ireland were Service Areas.
We have also reached agreement to lease a network of 43 petrol
filling station sites from CrossAmerica Partners LP ("CAP")
(NYSE:CAPL). These assets are all located in Florida.
Under the terms of the arrangement, Applegreen will enter into a
long-term agreement to lease the property assets from CAP. This
transaction is expected to complete, subject to a number of
conditions, in Q3 2018.
We are delighted to build on our existing relationship with CAP
given our continued focus on expanding our operations in the US
market. We believe this transaction provides us with the ability to
leverage our operational expertise and enhance the retail offering
at these locations. It also further increases our footprint in the
south east following our successful acquisition of the Brandi Group
in South Carolina last October.
Subject to shareholder approval, we intend to pay a final
dividend of 0.80c per share on 5(th) July 2018 to shareholders on
the register on 15(th) June 2018. This will bring the total
dividend for the financial year 2017 to 1.40c 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
Goodbody
Joe Gill +353 (0) 1 667 0420
Siobhan Wall
Richard Tunney
Shore Capital
Stephane Auton +44 (0) 20 7408 4090
Patrick Castle
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
AGMMMGGVNKVGRZM
(END) Dow Jones Newswires
June 06, 2018 02:00 ET (06:00 GMT)
Applegreen (LSE:APGN)
Historical Stock Chart
From Jun 2024 to Jul 2024
Applegreen (LSE:APGN)
Historical Stock Chart
From Jul 2023 to Jul 2024