Euro Garages in fast lane with 2,500 new jobs
FORECOURT retailer Euro Garages is set to create a further 2,500 jobs on the back of a near 50% growth in sales.
The Blackburn-based company saw turnover climb to £646m, a rise of 47% compared with 2013 (£439m).
Headcount at Euro Garages has increased from 1,800 to more than 3,200 over the past year, with 40% of the workforce aged 16 to 24.
During the year, Euro Garages also increased profit, with EBITDA rising by 67% to £30m.
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.
The company enjoyed impressive organic growth during the year, helped by rises in like-for-like fuel and non-fuel sales.
During the year, the company added 12 Greggs stores to its forecourts. It plans to have 30 of the fresh bakery outlets across the Euro Garages estate by the end of this year, along with 100 each Subway and Starbucks outlets.
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.
Chief executive Zuber Issa of Euro Garages, said: “This has been another milestone year for us.
“The latest acquisition of sites has significantly grown our national presence and even more people now have the chance to enjoy and access our forecourt experience.”
