ACT Earnings Rise
Alimentation Couche-Tard Inc. (ACT), which entered the United States market with its acquisition of Columbus, Ind.-based Johnson Oil Co. in July, posted better first-quarter earnings and revenues yesterday, citing the benefits of its recent acquisition.
The Canadian company reported earnings of C$14 million for the quarter ended July 22, up from earnings of C$8.4 million in the same period last year.
Revenues were C$516 million, up from C$406 million in the same quarter a year ago.
The results were helped by the acquisition in June of 225 U.S. stores under the Bigfoot banner from Johnson Oil, the company said in a statement.
The company said that judging from these results "fiscal 2001-2002 will definitely be Couche-Tard's most profitable year so far and the most promising for its future."
The Canadian company reported earnings of C$14 million for the quarter ended July 22, up from earnings of C$8.4 million in the same period last year.
Revenues were C$516 million, up from C$406 million in the same quarter a year ago.
The results were helped by the acquisition in June of 225 U.S. stores under the Bigfoot banner from Johnson Oil, the company said in a statement.
The company said that judging from these results "fiscal 2001-2002 will definitely be Couche-Tard's most profitable year so far and the most promising for its future."