Boyd’s Double-Digit Growth Continues

The Boyd Group has announced that its interim report to shareholders for the six months ending June 30, 2001 reflects net earnings of $1.8 million, an increase of nearly 30% over the same period last year. Earnings per share rose 11.6 cents for the six month period, an increase of 26% over last year.

The results continue to reflect the impact of the company’s acquisition based growth strategy as well as same store sales growth. Sales for the period increased to $67.0 million from $44.7 million for the same period last year, an increase of approximately 50%. The company’s annualized sales are now estimated at $133 million.

“We have made significant progress toward achieving our year 2001 goals, including growing revenues, earnings and earnings per share,” says Terry Smith, Boyd’s president and CEO. “We remain focused on executing our business plan and we are committed to continuing to build a ‘world class’ business based upon sound fundamentals.”

With 60 company owned locations, The Boyd Group Inc. is the largest operator of collision repair shops in Canada and is among the largest in North America.