Canadian distributor Strongco posted a 44-percent revenue hike in 2011, with CDN $423.2 million in revenue, compared with $294.7 million in 2010. Fourth-quarter revenues jumped 23 percent year over year, from $91.8 million in Q410 to $113.2 million in 2011.
Strongco’s rental revenue was CDN $29.6 million for the year, compared with $22.2 million in 2010, a 25-percent increase.
“We are pleased with Strongco’s performance during 2011,” said Robert Dryburgh, president and CEO. “Our results were far ahead of 2010 in every major category – revenues, margins, EBITDA, net earnings and EPS. In addition, our acquisition of Chadwick-Baross Inc. in February 2011 plus the new branches, facility upgrades and brand expansion we announced during the year position Strongco for continued, sustainable growth.”
Strongco’s increases in 2011 were fueled by Canada’s recovering commercial construction market, infrastructure spending and increased activity in the oil and gas and mining sectors.
“Strongco’s order book continued at a strong level throughout 2011 and remains robust in the first quarter of 2012,” added Dryburgh. “This is a solid leading indicator of demand as we proceed into the main selling season this year.”
Strongco’s rental revenues in the fourth quarter were $8.9 million, including $1.3 million from Chadwick-Baross, a 22-percent year-over-year increase.
Based in Mississauga, Ontario, Canada, Strongco is No. 67 on the RER 100.
