Couche-Tard profit rises on acquisitions, sales
(Reuters) - Convenience store operator Alimentation Couche-Tard Inc (ATDb.TO: Quote) reported a higher quarterly profit on Tuesday, helped by the acquisition of new stores.
Revenue rose 20.4 percent to $6.6 billion, due in large part to higher fuel prices and volumes at its gas stands.
Merchandise and service revenue rose 4.6 percent. Just over 40 percent of that growth was from acquisitions. In established stores, merchandise and sales revenue rose 3.4 percent in the United States, and 3.1 percent in Canada.
Net income for the quarter ended January 29 rose to $86.8 million, or 48 cents a share, from $69.6 million, or 37 cents, the year earlier. Analysts, on average, had expected earnings of 46 cents a share, according to Thomson Reuters I/B/E/S.
Quebec-based Couche-Tard operates nearly 6,000 convenience stores across North America, the majority of which sell motor fuel.
Couche-Tard shares were up 1.4 percent at C$31.87 on Tuesday morning on the Toronto Stock Exchange.
(Reporting By Allison Martell; editing by Peter Galloway)
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