Canadian convenience store chain Alimentation Couche-Tard has reported a 38% rise in third-quarter profit due to higher sales at its expanded US network.
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The Montreal-based company, which operates under the Couche-Tard, Mac’s, Backer’s and Dairy Mart banners, said it earned C$14m (US$9.4m) in the quarter to 2 February, compared to $10.2m a year earlier.
“This performance reflects the significant contribution of the US network, especially Dairy Mart, for the full quarter, as well as solid internal growth in geographic markets,” the company said in a statement, as quoted by Reuters.
“Everything points to our ending the fiscal year this April with significant growth over the previous year,” the company added.
In August last year, the company completed the acquisition of US-based Dairy Mart for US$79.5m, giving Couche-Tard 287 new stores and C$700m more in annual sales.
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By GlobalDataCouche-Tard, which now has more than 2,340 stores in Canada and the US, said quarterly sales were up to C$1.06bn from $727.9m due to the acquisition of Dairy Mart.
Same-store merchandise sales grew by 9.7% in Canada and by 8.4% in the US.
