Boyd Group Inc (The) -
Boyd Group six-month results
Boyd Group Inc (The) BYD.A
Shares issued 6,109,994 1999-08-18 close $2
Thursday Aug 19 1999
Mr. Terry Smith reports
The Boyd Group's interim report to shareholders for the six months ended June 30, 1999, will reflect net earnings of $706,100, representing an increase of approximately 312 per cent over the $171,564 reported for the same period last year. Earnings per share were 4.2 cents for the period, compared with 2.4 cents in 1998, reflecting earnings per share growth of 75 per cent.
On the strength of the company's continuing acquisition based growth strategy, sales for the six-month period grew to $23.9-million from $11.2-million last year, representing an increase of 113 per cent. On an annualized basis, the company's sales now approximate $61-million. Earnings before interest, taxes, depreciation and amortization (EBITDA) also increased 186 per cent to $2,681,674, or 11.2 per cent of sales, from $937,348, or 8.4 per cent of sales in 1998.
"We continue to be on track towards achieving our 1999 goals, which include doubling revenues, improving earnings and achieving meaningful earnings per share growth," said Terry Smith, Boyd's president and chief executive officer. |
