Thai CP All Q1 net profit up 32 pct, tops forecast
BANGKOK May 8 (Reuters) - CP All Pcl, Thailand's largest convenience store chain, reported a 32 percent rise in quarterly earnings on Tuesday due to higher sales after supply problems caused by last year's flooding ended and hot weather in March pushed up beverage sales.
CP All, a proxy for domestic consumption in Thailand, posted a January-March net profit of 2.76 billion baht ($89 million), up from 2.08 billion a year earlier, and compared with the 2.55 billion baht forecast by four analysts surveyed by Reuters.
The 7-Eleven store operator has more than 50 percent of the Thai convenince store market. It aims to open around 500 new outlets a year and plans to have 7,000 by 2013, up from 6,300 at the end of 2011. ($1 = 30.96 Thai baht) (Reporting by Khettiya Jittapong; Editing by Alan Raybould)
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