Canadian c-store chain Couche-Tard has booked an increase in full-year earnings, boosted by acquisitions, higher fuel margins and a lower income tax rate.
In the 12 months ended 28 April, the retailer recorded a net profit of C$527.8m, a 25.7% increase on last year. Couche-Tard attributed the increase to the contribution from acquisitions, higher fuel margins, as well as to a lower income tax rate.
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Operating profit was up 44.7% in the period to C$838.7m, while sales climbed 54.7% to C$35.54bn.
“During fiscal year 2014, Couche-Tard expects to pursue its investments with caution in order to, amongst other things, improve its network,” the company said. “The corporation also intends to keep an ongoing focus on its sales, supply terms and operating expenses while keeping an eye on growth opportunities that may be available to it.”
Click here to view the full earnings release.
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