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Couche-Tard profit soars nearly 30% Add to ...

Alimentation Couche-Tard Inc. reported a nearly 30 per cent increase in its latest quarterly profits on Thursday.

The convenience store and gas station company, which keeps its books in U.S. dollars, earned $71-million (U.S.), or 38 cents per share, for the quarter ended Jan. 30, compared with a profit of $54.8-million or 29 cents a year ago.

Revenue for the Montreal-area company totaled $5.61-billion, up from $4.94-billion.

Same-store merchandise sales were up 3.9 per cent in the U.S. and 0.4 per cent in Canada.

President and chief executive officer Alain Bouchard said Couche-Tard's results continue to improve.

“As for acquisitions, we are looking at many interesting opportunities but as we have mentioned many times in the past, we don't want to favour store count growth to the detriment of shareholders' return,” Mr. Bouchard said in a statement.

“Yet, when the right opportunity at the right price presents itself, we will be ready.”

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