Boyd Group has successful year of growth
Boyd Group Inc (The) BYD.A
Shares issued 6,109,994 Mar 12 close $1.75
Wed 17 Mar 99 News Release
Mr. Terry Smith reports
The company's annual report to shareholders for the year ended Dec. 31,1998 will reflect a successful year of growth and profitability. Sales for the year were $28.7-million, representing an increase of 75 per cent over 1997 sales of $16.4-million. Earnings before interest, taxes, depreciation and amortization (EBITDA), increased to $2.8-million, or 9.7 per cent sales in 1998, from $1.1-million, or 6.8 per cent of sales, in the prior year.
Net earnings were $577,823 or five cents per share.
This is the first year Boyd has operated as a public company. The 1997 comparative figures are therefore those of the business of Boyd under a predecessor limited partnership structure.
The 1998 results reflect the impact of seven acquisition transactions during the year and one startup location, which together comprised 13 operating locations representing annualized revenue of approximately $20-million. Including the Jan. 1, 1999 acquisition of four collision centres in Wichita, Kan., the company's current operations now represent annualized revenues of nearly $50-million, an increase of over 130 per cent when compared with 1997 year-end annualized revenues of $21-million. |
