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This article was published 13/5/2017 (1223 days ago), so information in it may no longer be current.

Boyd Group Income Fund reported on Friday first-quarter revenue of $378.9 million, up 8.2 per cent from the same period a year earlier, with modest same-store sales growth of 1.2 per cent.

The Winnipeg-based company operates 406 collision-repair locations in five provinces — concentrated in Manitoba, Alberta and B.C. — and 20 U.S. states.

The 8.2 per cent increase in sales for the quarter includes $37 million of incremental sales generated from 65 new locations added since the first quarter of 2016.

CEO Brock Bulbuck said the modest same-store sales growth in the first quarter was primarily due to extremely warm and dry winter weather conditions in many regions that the company operates in.

It resulted in decreased demand for services in some markets and combined with particularly strong same store sales growth experienced in the first quarter of 2016, produced the low quarter-over-quarter growth rate.

Bulbuck said foreign exchange markets hurt the company’s results.

"Notwithstanding these headwinds, we still reported meaningful growth in sales and earnings and we continue to be confident that we are on track to achieve our previously stated long-term goal of doubling our size by 2020."

The company added eight locations during the quarter and net earnings increased 8.6 per cent to $13.9 million.