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HIALEAH, Fla. -- Capital Oil & Gas Inc., which operates retail filling stations, c-stores and fast-food operations throughout Florida, reported better-than-expected third quarter results, as overall operating revenues increased, as well as net profits.
For the three months ended Sept. 30, the Florida-based company said its overall revenues increased 8 percent, reaching $7,387,326, while net profits increased 4 percent to $957,605.
The company attributed its "exceptional results during extraordinary economic times" to the addition of Mel's pizza franchises at its locations, along with the dropping cost of oil and growing consumer spending as gasoline prices continue to fall. At the same time, the retailer said it continues to maximize every revenue-generating possibility at its sites by adding additional products and services that appeal to its consumers.
Capital Oil & Gas also stated it is aggressively seeking additional acquisitions of comparable business operations and other additional synergetic-related businesses that can enhance revenues and profits that will meet its required financial criteria.