Boyd Group posts higher Q4 revenue, adjusted earnings but $6.9 million net loss

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WINNIPEG - Boyd Group Income Fund (TSX:BYD.UN) says its North American auto repair business showed strong revenue growth at the end of 2013 and the trend continued into the first quarter of 2014. However, the Winnipeg-based fund posted a $6.9 million net loss in the fourth quarter, or 48 cents per share, due to several expense items including an $11.9-million fair-value adjustment required mainly because of the higher value of the Boyd's fund units. Boyd's adjusted net earnings were $6.4 million or 44.6 cents per unit, up from $5.0 million or 39.8 cents per unit. Total sales were up 40 per cent to $161.1 million, from $115 million a year earlier, due to acquisitions and internal growth.

Organizations: Boyd Group Income Fund, TSX, North American

Geographic location: WINNIPEG

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