13.05.2012

Strongco boosts profits

Canadian sales and rental company Strongco has reported first quarter sales up 11 percent, while profits have more than doubled.

The company, which represents Grove, National Crane, Fassi, Sennebogen and Jekko reported revenues of $96.8 million in the first quarter, up 11 percent on the first quarter of 2011. Pre-tax profits jumped from $660,000 last year to $1.7 million this year, thanks to sales of larger equipment such as cranes.

Chief executive Robert Dryburgh said: “The improvement in construction markets that gathered momentum during 2011 continued into the first quarter of 2012. Strongco benefited from higher end-use markets, better sales execution and one additional month of contributions from Chadwick-BaRoss, which we acquired in February of last year.”

“As a result, we posted gains in all major metrics – revenues, margins, EBITDA, net earnings and EPS. As we move through 2012, we see demand continuing to rise in all of our markets and that’s reflected in the strongest order book we’ve had in several years.”