Euro Garages annual sales rise 50% to £646m

Euro Garages, the fast-growing forecourt retailer, has grown sales by nearly 50 per cent by further expanding its UK footprint and luring new customers with its brand partnerships and retail experience.

Sales were boosted by the acquisition of 48 existing petrol forecourt sites in the Midlands and East of England, which was completed in May with the help of a new finance package agreed with a syndicate of backers. The deal means Euro Garages now has almost 200 petrol forecourts across the UK.

In the current financial year, Euro Garages forecasts revenue of more than £850m, boosted by the impact of new sites and underlying like-for-like growth in fuel and non-fuel sales. The company expects EBITDA to approach £50m.

“At the same time, we are seeing customers at our existing sites continuing to take advantage of our best-in-class fuel, convenience retail, food and drink offers. This approach remains at the heart of our business model. Britons are increasingly switching to convenience retailing and I believe we are perfectly positioned to continue capitalising on this consumer shift to shopping for fewer items but more frequently.”

Managing director Mohsin Issa added: “Our continued success has been underpinned by the robust brand offer we provide to our customers, ongoing capital investment in our sites and our commitment to expanding our national footprint to consistently outperform the market in challenging retail trading conditions.