Canadian c-store operator Couche-Tard has posted net earnings for the third quarter to 1 February of C$71.1m (US$55.9m), up from $50.5m last year.
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The company said earnings from acquisitions had contributed to profit growth, which was also attributed to same-store merchandise sales growth – up by 0.5% in the US and 4.7% in Canada – higher motor fuel gross margins in the US, the increase in same-store fuel volumes in Canada and a decrease in financial expenses.
For the first three quarters of the 2009 fiscal year, net earnings reached $215.9m, or $1.09 per share on a diluted basis, up from $173.8m last year.
President and CEO Alain Bouchard said he was very satisfied with the results. “The levels of same-store sales and gross margins carried out during the quarter are more than satisfactory considering the headwinds we are facing and which result from the difficult economic situation,” Bouchard said.
