(MENAFN- ProactiveInvestors) Alimentation Couche-Tard (TSE:ATD.B) advanced in today’s trades after the largest public convenience-store operator in North America reported a 25 percent surge in profit for its fiscal second quarter.
Shares added 2.7 percent to C$39.21 at 1:55 p.m. in Toronto extending this year’s rally to 47 percent.
Net income rose to $286.4-million or $0.50 per share for the period ended Oct. 12 from $229.8 million or $0.40 per share in the year-earlier period the Laval Quebec-based company said in a statement today.
Excluding one-time charges earnings were $0.55 per diluted share a penny below analyst expectations.
Revenue fell to $8.94 billion from more than $9 billion last year. The decrease was largely the result of currency fluctuations and lower average fuel prices.
Same-store merchandise revenue was up 2.8 percent in the quarter in the U.S. 2.2 percent in Europe and 3 percent in Canada.
“We are very pleased with the results of the second quarter which are consistent with our previous quarters’ excellent performance” the company’s newly appointed chief executive officer Brian Hannasch said in the statement.
“Our performance this quarter is also the result of strong fuel margins combined with solid volume growth driven by our miles brand in Europe our consistent retail execution our initiatives to improve our operational efficiency our consistency in reducing our debt and our improvements to our network.”
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