CANADA: Couche-Tard Reports Strong Q3 Growth

Alimentation Couche-Tard has reported a strong set of results for its fiscal third quarter, helped by cost controls and the expansion of its store network.

For the three months to 29 January 2017, net profit grew by 4.7% to US$287m (+0.7% on an underlying basis), while revenues surged up 22.3% to US$11.bn, helped in part by acquisitions.

CEO Brian Hannasch noted: “On a global front, our company-wide Circle K rebranding is a continued success in Europe while we are accelerating the pace in the United States … We are seeing positive results from the integration of Esso. The transition went smoothly, we experience very positive response from consumers to our rebranding and merchandising initiatives and we anticipate delivering solid synergies.”