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Boyd Group reports Q2 profit as acquisitions push up revenue to $102 million

Published on August 10, 2012; Published on August 10, 2012

Topics :: Boyd Group Income Fund , North American , TSX , WINNIPEG , U.S.

WINNIPEG - Boyd Group Income Fund had a profitable second quarter, as additions to its North American network of auto repair shops drove up revenue.

The Winnipeg-based fund (TSX: BYD.UN) reports it had $1.1 million of net earnings, or nine cents per unit, in the second quarter.

That compared with a year-earlier net loss of $2.4 million or 22.1 cents per unit.

On an adjusted basis, Boyd's earnings improved to $6.8 million from $2.7 million in the second quarter of 2011..

The group's sales were up 32.7 per cent from a year earlier, rising to $102.9 million from $77.6 million.

Boyd said the higher revenue was mostly due to acquisitions and new locations, as well as sales growth at its U.S. locations.

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