Go to the Globe and Mail homepage

Jump to main navigationJump to main content

New gas bars fuel revenue at Sobey's parent Empire Co. (Simon Hayter for The Globe and Mail)
New gas bars fuel revenue at Sobey's parent Empire Co. (Simon Hayter for The Globe and Mail)

New gas bars fuel revenue at Sobey's parent Empire Co. Add to ...

T he parent of the Sobeys grocery chain says its acquisition of 236 retail gas and convenience locations helped boost revenue to $4.34-billion in the latest quarter.

Empire Co. Ltd.’s revenue was up 9 per cent from the same time last year but would have been up a more modest 2.6 per cent without the acquisition.

More Related to this Story

Most of Empire’s revenue was generated by Sobeys, which contributed $4.28-billion of the total, including $246.8-million from the acquired gas bar locations.

Nova Scotia-based Empire said it had $75.2-million of net income in its financial third quarter ended Feb. 2, equal to $1.11 per share.

Adjusted earnings were slightly higher at $79.6-million or $1.17 per share – 2 cents per share above a consensus estimate compiled by Thomson Reuters..

The adjustments exclude a number of items, including a $9.3-million gain that Empire recognized last year on the sale of some assets.

Follow us on Twitter: @GlobeInvestor

 
Security Price Change
EMP.A-T Empire Company 71.45 0.08
0.112 %
Add to watchlist
Live Discussion of EMP.A on StockTwits
More Discussion on EMP.A-T

Topics:

In the know

Most popular video »

Highlights

More from The Globe and Mail

Most Popular Stories