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Alimentation CoucheTard strategic plan aims to double net profit in five years


LAVAL, Que. — Quebec convenience store giant Alimentation Couche-Tard aims to double its net earnings in the next five years.The company, which primarily operates under the Circle K banner, says it will achieve the target through a combination of organic growth and further acquisitions.Chief executive Brian Hannasch describes the goal as “ambitious” but one that can be achieved by remaining true to its core business while maximizing its strengths.Couche-Tard’s net profit grew 10 per cent last year to US$1.8 billion while adjusted earnings per share were up 27.7 per cent to $3.32 as revenues increased 15 per cent to US$59.1 billion.The retailer has become one of the world’s largest convenience store chains through a series of acquisitions and adoption of coffee, food and cold beverage programs that grew by double digits last year.Analyst Keith Howlett of Desjardins Capital Markets says doubling its profitability will depend on sustained sales momentum and expanded gross margins that will likely come from a shift in product mix to high margin food service. Companies in this story: (TSX:ATD.B)The Canadian Press

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