In a rather odd annual results period running from 1 February 2018 to 31 January 2019, Canadian powersports manufacturer Bombardier Recreational Products (BRP) hit all the right buttons, in what its chief executive José Boisjoli described as “an incredible year for us”. BDN financial editor Roger Willis reports.
During the 12 months, sales revenue from BRP’s Can-Am, Ski-Doo, Sea-Doo, Evinrude, Alumacraft, Triton and Rotax brands climbed by 17.8% to £2.965bn. Operating profit was 25.1% up to £267.2m and net profit increased by 25.7% to £174.5m.
However, appreciation of BRP’s good fortune by investors on the Toronto Stock Exchange across this fiscal year has been decidely mixed. In the first six months, its share price stacked on 39.6% and then declined to end the full period 25.4% down on an annualised basis. The price subsequently dropped by a further 5.3% to a point immediately after such an upbeat results announcement. There’s obviously no way of pleasing some folks in Canada.