Wednesday August 12, 2020

Applegreen lays off 4,800 as it reports 50% jump in revenue

Forecourt retailer introduces recruitment freeze, slashes capital expenditure and decides not to pay dividend as Covid-19 hits demand

27th March, 2020
Applegreen chief executive Bob Etchingham and commercial director Joe Barrett. In addition to laying workers off, Applegreen has introduced a recruitment freeze and slashed its capital expenditure for the year. Picture: Jason Clarke

Applegreen has temporarily slashed its workforce by more than 4,800 across Britain and Ireland as it grapples with the impact of the Covid-19 pandemic.

The Irish Forecourt retailer reported a 53 per cent jump in full-year revenue to €3.1 billion in 2019. Group adjusted earnings before interest, taxation, depreciation and amortisation (Ebitda) soared by 141 per cent to €140.4 million.

The company recorded gross profit of €572.1 million – more than double the 2018 figure – while its adjusted...

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