For the first six months of the year, the company’s growth in revenues was $1.5 billion, or 25.9%, which boosted its revenues to $7.1 billion, of which $1.1 billion is attributable to acquisitions.
The company reported net earnings of $54.2 million, or $0.26 per diluted share, compared to $74.7 million, or $0.36 per diluted share last year. This is mainly due to the impact of US fuel margins, which were at an extraordinary level a year ago, the company said.
Motor fuel revenues increased $555 million, or 33%, for the 12-week period ended October 14, 2007, of which $21.8 million was generated by the appreciation of the Canadian dollar and $71.4 million stemmed from a higher average retail price at the pump in its US and Canadian company-operated stores.
Alain Bouchard, president and CEO, said: Last year’s second quarter was tough when compared, because of the US gas margin. I’m happy with our performance. Our in-store merchandise saw revenue growth and recovery in certain markets, showing that our pricing and strategies are on target.
