Canadian convenience operator Couche-Tard posted a 17.5% increase in net income for the first half, benefiting from higher gross margins on fuel in the US.
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For the 24 weeks to 12 October, net income reached C$144.8m (US$118.2m) from C$123.3m in the same period last year.
Revenue rose 30% to C$4.56bn. Of this, motor-fuel revenue rose 43% to C$3.21bn.
For the first half, growth in sales of goods and services was C$1.8bn or 25.5%, which increased turnover to C$8.9bn. Of this growth, C$1.4bn was due to higher selling prices for fuel, C$667.3m from acquisitions and C$ 31.7m from the Canadian dollar.
“We are aware that we still have challenges to face in light of the difficult economic situation,” said Alain Bouchard, president and CEO. “However, this situation could allow us to make acquisitions on advantageous terms, given our strong position.”
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