Canadian forecourt and convenience retailer Alimentation Couche-Tard has booked a 30.8% jump in year-to-date net earnings, boosted by rising gas sales.

The company said that net earnings in the nine-months to 30 January rose to US$306.1m, up from $234.1m last year. Operating income increased 27.2%, climbing to $433.7m during the period.

Couche-Tard said that earnings were driven by higher gas sales, which were propelled by both higher volumes and selling prices. North American gas sales rose 17.7% during the nine-months, boosting total revenue gains to 13.6%. General merchandise sales, including food products, rose 6.4%.

The group indicated that it remains on the look-out for bolt on acquisitions “at the right price”, having walked away from its high-profile hostile takeover bid for Casey’s General Stores in October.

Couche-Tard president and CEO Alain Bouchard commented: “As for acquisitions, we are looking at many interesting opportunities but as we have mentioned many times in the past, we don’t want to favour store count growth to the detriment of shareholders’ return. Yet, when the right opportunity at the right price presents itself, we will be ready.”

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.