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August 30, 2013

CANADA: Couche-Tard Q1 earnings double

Canadian c-store chain Couche-Tard its earnings double in the first quarter, boosted by robust merchandise sales.

Canadian c-store chain Couche-Tard its earnings double in the first quarter, boosted by robust merchandise sales.

In the three months to the end of June, the retailer recorded a net profit of C$255m, up from C$102.9m a year earlier. EBITDA reached C$452.1m from C$315.2m in the 2012 comparable period.

Revenues reached C$8.9bn in the quarter, an increase of 48%, mainly attributable to acquisitions and the growth in merchandise revenues and same-store road transportation fuel volume in the US. Same-store merchandise sales were up 2.7% in the US, 0.7% in Canada and 1.9% in Europe.

The company reiterated its goal of annual synergies of C$150m-to-C$200m before the end of December 2015.

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