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Acquisitions fuel Couche-Tard's fourth-quarter growth

Convenience store giant earns US$392.7 million for the 12-week period

Alimentation Couche-Tard Inc. says its net income rose 41.5% in the fourth quarter as growth and acquisitions fuelled an equal jump in revenues.

The North American convenience store giant based in Laval, Que., says it earned US$392.7 million for the 12-week period ended April 29, up from US$277.6 million in what was a 13-week period a year ago.

The earnings translated into 70 cents per diluted share, up from 49 cents per diluted share in the final quarter of 2017.

Couche-Tard, which reports in U.S. dollars and operates mainly under the Circle K banner, says it estimates adjusted net earnings at $360 million or 64 cents per share for a 21% jump in adjusted earnings from a year earlier.

Canada's largest company by revenues says they rose to $13,614.8 billion, from $962.3 million.

The company was expected to earn 57 cents per share and 55 cents per share on an adjusted basis, along with $12.9 billion of revenues, according to analysts polled by Thomson Reuters Eikon.

For the 52-weeks to the end of April, Couche-Tard earned $1,673.6 billion, up 38% from the $1,208.9 billion it earned in the previous fiscal year that had 53 weeks.

Analysts forecast $2.85 per share in adjusted profits on $50.66 billion of revenues for the fiscal year.

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