Sobeys 1Q 2013 Financials Reach New Levels

                  

                      On September 13, 2012 Sobeys parent Empire Company Limited released results for the first quarter of the 2013 fiscal year.  The newly acquired 236 Shell gas stations added just over $250 million to total revenue which is now $4.56 billion (from $4.15B in 1Q2012).  Excluding new revenue stream from gas retailing Empire Company revenue is up +3.5% --> $4.3 billion (Canadian dollars).  Because the new gas stations are part of the Sobeys division, Sobey's revenue contribution to the entire company is now at 98.9% ($4.51b / $4.56b) up from last year.

 

Empire-Company profited 22.08% more --> $108.90 million (from $89.2 million) or $1.60 a share (from $1.31).  Excluding the newly acquired gas stations / convenience locations, Sobeys revenue is up +$145.8m.

 

Adjusted:  Empire-Sobeys combined net income is up +21.6% --> $1.52/share (from $1.25).

more information at Empire Company Limited corporate site

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