UPDATE 1-Acquisitions boost retailer Couche-Tard's profit

Fri Aug 30, 2013 11:34am EDT
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* Adjusted profit up 21 percent, beats estimates

* Revenue up 48 percent, beats expectations

* Pricing strategies boost same-store sales, hurt margins

* Hikes dividend by 17 pct to C$8.75/share

* Shares rises as much as 7 percent

Aug 30 (Reuters) - Alimentation Couche-Tard Inc's first-quarter profit rose more than expected as acquisitions led to higher sales at its convenience store and gasoline stations.

The Canadian company also raised its quarterly dividend by about 17 percent, which helped push its shares up as much as 7 percent on Friday.

Couche-Tard bought Norway's gas station chain operator Statoil Fuel & Retail in June last year. Since then its has bought over 100 stores which helped boost the number of its Mac's and Circle K outlets.

These acquisitions helped total sales rise 48 percent to $8.90 billion in the quarter ended July 21. Analysts were expecting $9.15 billion, according to Thomson Reuters I/B/E/S.   Continued...