Canadian convenience leader Couche-Tard has reported that netearnings increased 64.2 per cent to US$142.5m during the third quarter of fiscal 2011/12, ended 3 February.
According to Planet Retail, revenue increased to US$11.6bn from US$6.6bn, while same-store sales climbed 1.7 per cent in Canada and 0.8 per cent in the US.
'Our recent acquisitions continue to contribute significantly to our results,' noted president and CEO Alain Bouchard. 'We continue to improve our network by adding quality stores, while divesting some stores that do not meet our profitability criteria.
'Despite the difficult and uncertain conditions in some markets, we grew the organic contribution, both in terms of merchandise, service and motor fuel,' he added. 'Withrespect to Europe, we are making good progress on identifying and implementing opportunities to improve efficiency and increase revenues.'
