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Home Canadian Press Finning International reports third-quarter profit and revenue up from year ago

Finning International reports third-quarter profit and revenue up from year ago

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VANCOUVER — Finning International Inc. says it earned $52 million in its latest quarter, up from $36 million a year ago, as revenue improved 16 per cent.

The heavy equipment dealer (TSX:FTT) says the profit amounted to 31 cents per share, up from 22 cents per share in the same quarter last year.

Revenue totalled $1.55 billion, up from $1.33 billion a year ago, boosted by gains across all of its regions and lines of business.

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The company says new equipment sales were up 25 per cent, while product support revenues grew by 13 per cent.

On an adjusted basis, Finning says it earned $59 million or 35 cents per share, up from $36 million or 22 cents per share last year.

Finning is the world’s largest Caterpillar equipment dealer with operations in Canada, Chile, Argentina, Bolivia, the United Kingdom and Ireland.

The Canadian Press

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