Canadian c-store chain Couche-Tard has booked an increase in third-quarter profit, boosted by acquisitions, higher margins on fuel and a lower income tax rate.
Earnings in the three months ended 3 February were up 64.2% to C$142.5m (US$138.9m), the retailer reported today (19 March). Operating profit grew 88.9% to C$209.3m.
Revenue at the Quebec-based company rose 75% to $11.57bn, and was up 2.6% on a same-store basis.
“Our recent acquisitions continue to contribute significantly to our results” said CEO Alain Bouchard. “We continue to improve our network by adding quality stores, while divesting some stores that do not meet our profitability criteria. Despite the difficult and uncertain conditions in some markets, we grew the organic contribution, both in terms of merchandise, service and motor fuel.”
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