Couche-Tard To 'Focus On Integration Of Topaz'
Published on Mar 22 2016 7:37 AM
The new owner of Topaz, Canadian retail firm Couche-Tard has released its results for the third quarter of the 2016 fiscal year, in which it revealed that its main aim for the final quarter of the year is to 'focus on the integration of Topaz into its network'.
In relation to the Topaz transaction, the report said; "On February 1 2016, subsequent to the end of the third quarter, we acquired all outstanding shares of Topaz Energy Group Limited, Resource Property Investment Fund plc, and Esso Ireland Limited, collectively known as 'Topaz'.
"In line with our business model, we expect realising synergies through growth of in-store sales and fuel volumes, improving our operations, sharing our business awareness and each company's best practices as well as optimising supply conditions. We also expect to realise some cost reductions through the intergration of Topaz into our network."
The company's total revenue increased by 2.5% while gross profit increased close to 14%. Adjusted earnings were up to ¢53 per share on a diluted basis, an increase of 4.2%.
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