Quebec Ski-Doo snowmobile maker BRP sees profits soar

VALCOURT, Que. -- The Quebec-based maker of Ski-Doo snowmobiles and other off-road vehicles says the strengthening of the U.S. dollar helped boost its revenue to $1.01 billion in the third quarter.

See Full Article

BRP Inc. (TSX:DOO) says revenue was up $92.2 million or 10 per cent compared with the same time last year, including a $75-million bump from a favourable shift in currency rates.

Net income jumped by 76 per cent to $65.5 million, an increase of $28.3 million.

In addition to benefitting from higher revenue, BRP's net income included a smaller foreign-exhange loss on long-term debt, which fell by 91 per cent or $27 million from last year's third quarter.

The largest portion of BRP's revenue came from seasonal products such as Ski-Doos and Sea-Doos, which were up 5.1 per cent from last year at $476 million.

Revenue from year-round products such as Can-Am four-wheeled all-terrain vehicles and three-wheeled Spyder roadsters rose by 14.3 per cent to $260.1 million. The company also sells parts, accessories, clothing and propulsion systems, which accounted for $274.1 million of the quarter's revenue, up 15 per cent from last year..

BRP president and CEO Jose Boisjoli said the company's strong results in the third quarter reflected the company's geograpmic, manufacturing and product diversification.

"While considering the volatile economic situation in many regions, I am pleased with how we have progressed so far this year. We have delivered on our plan and we continue to gain momentum with our network worldwide," Boisjoli said.



Advertisements

Latest Economic News

  • Deciphering Trump's curious comments on Keystone XL pipeline

    Economic CBC News
    In his nearly hour-long speech at the Conservative Political Action Conference on Friday morning, U.S. President Trump talked about a lot of things — the media, Obamacare, trade and crime. But he also ventured into pipelines. Source
  • Ontario police looking for 'large quantity' of stolen cheese

    Economic CTV News
    SOUTH WEST OXFORD TOWNSHIP, Ont. - Police in southwestern Ontario are looking for thieves who made off with a lot of cheese. Ontario Provincial Police say the Village Cheese Mill in South West Oxford Township, east of London, Ont. Source
  • Stock prices slide lower despite large profits at big banks

    Economic CBC News
    Canada's benchmark stock index is on track for its worst day of the year as oil prices are lower and financial firms are selling off despite record earnings at some of Canada's biggest banks. The S&P/TSX composite index was off by 260 points to 15,520 in the afternoon. Source
  • TSX tumbles 247 points despite big profits at big banks

    Economic CBC News
    Canada's benchmark stock index is on track for its worst day of the year as oil prices are lower and financial firms are selling off despite record earnings at some of Canada's biggest banks. The S&P/TSX composite index was off by 260 points to 15,520 in the afternoon. Source
  • 'Baycott': Why 'Peeved Beavers' are upset by Ivanka Trump's brand at the Bay

    Economic CTV News
    Armed with distinctive blonde wigs, pursed lips and red power ties, a group of Ontario women are planning to dress up as U.S. President Donald Trump to protest the Hudson’s Bay Co. for carrying Ivanka Trump’s fashion line during two demonstrations in the Toronto area planned for Saturday. Source
  • Nova Scotia tourism sees third consecutive year of growth

    Economic CTV News
    HALIFAX - Nova Scotia says the province's tourism industry continued a steady upswing in fortunes in 2016. It says 2.2 million visitors came to the province -- that's up eight per cent, or about 170,000 more visitors, than in 2015. Source
  • Husky may sell some of its assets in N.L. offshore oil industry: sources

    Economic CBC News
    Canadian oil and gas producer Husky Energy Inc is weighing paring down its stakes in some of its Eastern Canadian offshore assets, in a move that could fetch as much as several billion dollars, people familiar with the talks have told the Reuters news service. Source
  • Cleanup of oil spill in Sask. cost $107M, Husky Energy says

    Economic CTV News
    CALGARY -- Husky Energy says efforts to clean up a major oil pipeline spill last year in Saskatchewan have cost $107 million. About 90,000 litres of heavy crude and diluent leaked into the North Saskatchewan River last July, jeopardizing drinking water supplies for thousands of people downstream. Source
  • Ottawa's deficit hits $14B through first nine months of fiscal year

    Economic CBC News
    The federal government ran a budgetary shortfall of $14 billion over the first nine months of the fiscal year, compared with a $3.2-billion surplus over the same period a year earlier. The Finance Department's monthly fiscal monitor says federal program expenses between April and December rose $16.7 billion, or 8.8 per cent, compared with the same stretch a year ago. Source
  • Uniqlo's new modest line featuring hijabs debuts in Toronto

    Economic CTV News
    A modest-style clothing collection that features hijabs and abayas is making its debut at Canada’s two Uniqlo clothing stores. The clothing collection is by U.K.-born fashion designer Hana Tajima and features 30 items in 81 colours and patterns. Source