Element Fleet Management reported Q1/17 after-tax adjusted operating income was C$100 million ($73 million), relatively flat compared to Q4/16 and a decrease of 10% compared to Q1/16. Service and other revenue of C$143.3 million ($104.4 million) grew on a sequential quarter basis by 2.2% and represented 61% of net revenue.
The following highlights were excerpted from the news release:
“We delivered a solid quarter, with key revenue drivers showing improvements as the quarter progressed,”said Bradley Nullmeyer, Element’s CEO. “Our services revenue continues to increase as a percentage of total revenue, net interest margin yield increased sequentially, and we expect our overall performance to continue to improve as we progress throughout the year.”
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