Canada: Couche-Tard Revenues Up
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Wednesday, 16 July 2008 |
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Alimentation Couche-Tard said revenue in the fourth quarter ended April
27 rose by 25 per cent to $3.7 billion U.S., helped by acquisitions.
But the firm said its net earnings dropped by more than half to $15.5
million U.S., or 8 cents a share, from $33.4 million, or 16 cents a
share, a year earlier.
Skyhigh fuel prices discouraged drivers from
filling up at Circle K pumps in the U.S. and also slowed instore
merchandising business. As well, gasoline, accounting for more than
half of Couche-Tard's revenue, has climbed steadily by 35 per cent in
the past year, squeezing store margins. Analysts had not expected such
a severe impact on Couche-Tard's bottom line.
PetrolWorld 150708 source: Gazette Montreal
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