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Winnipeg Free Press - PRINT EDITION
Boyd Group enjoys hike in first-quarter revenue
BOYD Group Income Trust announced a 31.7 per cent increase in revenue for the first quarter on Friday, but same-store sales decreased by 0.4 per cent.
The Winnipeg-based collision-repair company generated $107.4 million in revenue. Much of the increase was the result of 14 new locations, mostly in the United States, it did not have last year.
Adjusted EBITDA was $7 million compared with $5.5 million during the same period last year.
Net earnings were $2.1 million, or $0.166 a unit, compared with $0.9 million, or $0.082 a unit, for the first quarter last year.
Brock Bulbuck, president and CEO of Boyd Group, said, "We made significant progress towards our growth goals for the year and we posted respectable results despite the weather-related challenges of the mild and dry winter. Total same-store sales were only down slightly, and U.S. same-store sales recorded modest positive growth."
Boyd's units (TSX:BYD.UN) closed up 92 cents Friday at $13.25.
-- staff
Republished from the Winnipeg Free Press print edition May 12, 2012 B6
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