March 28, 2024

Canlan Q4 earnings rise 29 per cent

BURNABY, B.C. – Rink operator Canlan Ice Sports Corp. says its fourth-quarter net earnings rose 29 per cent, while revenues also moved up on higher activity in rentals and youth hockey leagues.

The British Columbia-based firm, which is the largest private sector owner and operator of recreational ice sports facilities in North America, said profits were $ 1.9 million, or 14 cents per share in the quarter.

That’s up from $ 1.5 million, or 11 cents per share, a year earlier.

Revenue was $ 20.3 million, an increase from $ 20 million in the comparable period, as it booked stronger results from contract ice and field rentals, instructional programs, the Adult Safe Hockey League and youth hockey leagues.

Canlan currently owns and or manages 21 such facilities in Canada and the United States with 64 ice surfaces, as well as indoor soccer fields, ball diamonds, curling rinks and volleyball courts.

For the full-year 2011, the company posted a 288 per cent increase in earnings to $ 2.8 million from $ 733,000 in 2010. Revenue grew to $ 72 million from $ 69.9 million.

Local news from metronews.ca/vancouver

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