Cervus Equipment reported its financial results and operational highlights for the full year 2018. The company’s generated adjusted income before income tax expense was $36.5 million, a $8.8 million increase over 2017 adjusted income.
“I am pleased with the accelerated financial results of 2018, reflecting significant objectives achieved in the year. Our Ontario transportation dealerships delivered outstanding performance. Leveraging our scale and consistency was fundamental in marketing a record volume of pre-owned agricultural equipment, in addition to achieving record new agricultural equipment sales. Further, service optimization continues to elevate our customers’ experience, while increasing the efficiency of our service departments,” said Graham Drake, Cervus president and CEO. “Based on this performance, we have increased the quarterly dividend to $0.11 per share. I believe our success and accomplishments in 2018 have enhanced our capabilities as we enter 2019, and I look forward to what the year will bring for our customers, shareholders, OEMs, and employees.”
2018 highlights included:
Cervus acquires and operates authorized agricultural, transportation and materials handling equipment dealerships. It has interests in 63 dealerships in Canada, New Zealand, and Australia and employs more than 1,500 people.
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