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UPDATE 1-Canada's Couche Tard posts 4.7 pct rise in profit

Published 2017-03-14, 09:21 a/m
© Reuters.  UPDATE 1-Canada's Couche Tard posts 4.7 pct rise in profit
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March 14 (Reuters) - Canadian convenience store operator Alimentation Couche Tard ATDb.TO reported a 4.7 percent increase in quarterly profit on Tuesday, largely boosted by acquisitions.

Couche Tard, one of Canada's most acquisitive companies, has been expanding through deals in Europe, Canada and the United States.

Last year, the owner of the Circle K chain of convenience stores struck its biggest deal to date, with the $4.4 billion acquisition of U.S. retailer CST Brands Inc CST.N .

Revenue from the company's fuel retail business rose 27 percent to $7.97 billion in the quarter ended Jan. 29. The business made up nearly 70 percent of total revenue.

Same-store merchandise revenue in the U.S. climbed 1.9 percent and rose 2.5 percent in Europe, but fell 0.9 percent in Canada, the company said.

Laval, Quebec-based Couche Tard's net income rose to $287 million or 50 cents per share in the third quarter ended Jan. 29, from $274 million or 48 cents per share, a year earlier. revenue jumped 22.3 percent to $11.42 billion.

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