EG Group, a British retailer operating in Australia, America and the UK, launched 26 foodservice outlets in this quarter. EG has now increased its outlet numbers to more than 1800 at the group level. Its revenues skyrocketed 25.1% year-on-year from $5.52bn (£4.4bn) to $6.91bn (£5.5bn) in the last three months (Q1). This spike resulted from its food service operations experiencing a 54% rise in gross profits to $175m (£139.7m), compared to $114m (£91m) in Q1 last year, up 20% on a like-for-like basis. Consequently, group EBITDA went up 2% year-on-year from $265m (£211.58m) to $270m (£215.57m). EG Group has announced to create around 32,000 jobs globally over a five-year period due to its great performance. Founded by Zuber Issa and Mohsin Issa, the firm has food service, grocery and fuel station operations. The macro-changes in the wholesale fuel market worked in favour of the EG Group.
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