Winnipeg, Manitoba -- August 15, 2016 -- It looks like another bang-up quarter for the Boyd Group. The company has officially reported its financial results for the three and six-month periods ended June 30, 2016. Sales have increased by 18.8 percent to $331 million from $278.7 million in 2015. While some of this growth in sales comes from acquisitions, the figures also include significant same-store sales increases of 5.1 percent.
"With 38 locations added to date, strong same-store sales increases and overall solid financial results, we are very pleased with our progress thus far in 2016 towards our stated goals," said Brock Bulbuck, President and Chief Executive Officer of the Boyd Group. "With our new location in Kentucky we have also now entered our 20th state, representing yet another milestone for our company."
Management held a conference call on Friday, August 12, 2016 to review the second quarter results. An archived audio webcast of the conference call is available through boydgroup.com for the next 90 days. A taped replay of the conference call will also be available until Friday, August 19, 2016, at midnight by calling 1-855-859-2056 or 416-849-0833, reference number 50201274.
"Looking to the rest of 2016, we are confident that we will continue to make progress toward our long-term growth targets and operational plans," says Bulbuck. "Our strong balance sheet, along with approximately $350 million in dry powder, positions us extremely well for continued growth and continued investment in our business."
Boyd Group operates locations in five Canadian provinces under the trade name Boyd Autobody & Glass, as well as in 20 US states under the trade name Gerber Collision & Glass. For more information, please visit boydgroup.com.