Travel Ports Reports Record Results
September 29, 1998
Oct. 1 – Despite lower gross profit margins from diesel fuel, Travel Ports of America reported record net income for its first quarter ended July 31 – the company’s 29th consecutive quarterly profit.
The reason for the results was a strong increase in nonfuel sales. The company reported a 4% increase in sales from its restaurants, stores and repair shops, as well as a 4% increase in overall fuel sales. While diesel gallons sold increased 4% from the same period in fiscal 1998, sales dollars of diesel decreased by more than $3.8 million due to lower retail prices of diesel.
Travel Ports of America operates full-service travel plazas in seven states, primarily in the Northeast.