Canada-based convenience store operator Alimentation Couche-Tard has reported a $9.0bn, or 14.4% revenue increase to $71.85bn for fiscal year (FY) 2023.
During the year ending 30 April 2023, the company’s total gross profit was $12.05bn, up 9.5% from $11bn in FY22.
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Couche-Tard registered an operating income of $4.23bn in FY23, an increase of 15.0% from $3.67bn a year ago.
Its net earnings for the period also grew by 15.2% to $3.09bn from $2.68bn in FY22 and its basic and diluted earnings per share were $3.07 and $3.06.
In the fourth quarter (Q4) to 30 April 2023, the convenience retailer saw its revenue decline by 1.0% to $16.26bn compared to $16.43bn in the same period a year ago.
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Operating income for Couche-Tard increased 39.9% to $933.7m and its net earnings also increased by 40.4% to $670.7m in Q4 FY23.
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By GlobalDataThe retailer’s gross profit rose 13.8% to $2.90bn in Q4 FY23 from $2.55bn a year ago.
Alimentation president and chief executive officer Brian Hannasch said: “We are pleased to announce an exceptional fiscal year as well as strong fourth-quarter results. Even more so, we are proud to share that we have hit our five-year Double Again strategic goal.
“This is a particularly amazing achievement as during three of those five years we faced historic global challenges, including a pandemic, inflation, labour and supply shortages and war bordering our European markets.
“While many organisations chart ambitious strategic plans, they can lose momentum along the way. We were able to march forward – growing, innovating and producing remarkable financial results – because of our award-winning engaged team members and customer-centric culture.
“I want to thank all team members, customers and shareholders for their commitment to the business and supporting us on this journey to Double Again.”
