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BMTC Group Inc. announces financial results for its year ended January 31st, 2018

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BMTC Group Inc. announces financial results for its year ended January 31st, 2018

Canada NewsWire

MONTREAL, April 17, 2018 /CNW Telbec/ -

Results

For the year ended January 31st, 2018 (a 13 month period), the Company's revenues increased by $63,495,000 to $810,144,000, compared to $746,649,000 recorded for the year ended December 31st, 2016 (a 12 month period). The increase in revenues for the comparable periods would have been 1%. Same store revenues for the comparable periods would have increased by 1%. Net earnings for the year ended January 31st, 2018 (a 13 month period), amounted to $49,335,000 compared to $43,830,000 recorded for the year ended December 31st, 2016 (a 12 month period). Basic net earnings per share amounted to $1.36 compared to $1.17. The contribution to net earnings for the month of January was $167,000, which had no impact on net earnings per share.

The $25,433,000 increase of the gross margin can be explained by the increase of revenues.

The following summarizes the Company's operations as well as the impact of the increase in commercial and administrative expenses as at January 31st, 2018 and December 31st, 2016.

 

Adjusted retail operating earnings

($ in thousands)




Jan. 31, 2018


Dec. 31, 2016


Variation




(13 months)


(12 months)



Operating earnings

65 372


51 845


13 527

Adjustment








Variation of cost of options before tax

241


(44)


285




65 613


51 801


13 812









Income tax





(3 855)

Variation in adjusted operating earnings





9 957









Commercial expenses

($ in thousands)




Jan. 31, 2018


Dec. 31, 2016


Variation




(13 months)


(12 months)



Commercial expenses

208 003


198 874


9 129











Variable cost of sales*





10 564



Decrease in amortization





(1 435)








9 129









Adjusted administrative expenses

($ in thousands)




Jan. 31, 2018


Dec. 31, 2016


Variation




(13 months)


(12 months)



Administrative expenses

50 176


47 612


2 564


Adjustments








Variation of cost of options before tax

(241)


44


(285)

Variation in adjusted administrative expenses

49 935


47 656


2 279









The increase in t

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