Couche-Tard Increases its Annual Earnings by 56 Percent and its Quarterly Earnings by 200 Percent.MONTREAL--(BUSINESS WIRE)--June 23, 1998--(ME:ATD ATD Anthropomorphic Test Dummy ATD Attention to Detail ATD Advanced Technology Demonstration AtD Achieving the Dream ATD Atmospheric Technology Division (US National Center for Atmospheric Research) ATD Assistant Technical Director .A.) (ME:ATD.B.) In the fiscal year ended April 26, 1998 Alimentation Couche-Tard Alimentation Couche-Tard Inc. TSX: ATD.A (a "Couche-Tard" is a "night owl" in French) is the largest Canadian convenience store retailer, operating or franchising over 5,000 stores across Canada, the United States, and in other countries. earned a net income of $792.7 million, compared to $351.5 million in 1997, an increase of 126 percent. Net earnings increased by 56 percent rising to $8.6 million compared to $5.5 million in 1997. Based on an average weighted number of outstanding shares, which is higher this year, 11,526,754 shares compared to 10,877,655 in 1997, per-share earnings for 1998 amounted to $0.75 compared to $0.50 in 1997. In the fourth quarter, which spanned 12 weeks of operation, consolidated sales rose to $182.4 million, up 133 percent from $78.2 million in the same period of 1997. Net earnings increased by 200 percent rising to $1.8 million or $0.15 per share compared to $0.6 million or $0.05 per share in 1997. On May 18, 1997 Couche-Tard completed the acquisition of all shares of C. Corp. Inc., a Provigo subsidiary, adding to its network 295 new stores, specifically 245Provi-Soir in Quebec and 50 Wink's in Ontario and Western Canada
Western Canada, commonly referred to as the West . This latest acquisition of which some synergy The enhanced result of two or more people, groups or organizations working together. In other words, one and one equals three! It comes from the Greek "synergia," which means joint work and cooperative action. has yet to be accomplished, largely accounts for the company's higher sales figures sales figures npl → cifras fpl de ventas and net earnings increase.
CONTACT: ALIMENTATION COUCHE-TARD INC.
Richard Fortin, 514/ 662-6632
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