Manac Increases Second Quarter Profit
SAINT-GEORGES, QC — The specialty trailer manufacturer Manac Inc. has reported second quarter net income of $2.5 million, an increase from $1.9 million a year earlier, as its backlog for orders remains high.
Revenues for the second quarter totaled $103.6 million, compared with $72.1 million a year earlier, an increase of 43.7%.
According to Manac, the increase in revenue is partly due to the acquisition of Peerless Ltd., but mainly to an increased production output at the company’s three other facilities to address the high level of demand.
For the first six months of 2015, net income was $6.8 million compared to $3.5 million a year earlier, while revenue totaled $199.5 million versus $138.3 for the 2014 second quarter, an increase of 44.3%.
“Our good second quarter 2015 is the result of a solid performance from our manufacturing teams, supported by the strong backlog and positive industry dynamics,” said Charles Dutil, president and CEO. “Lower activity levels within the energy sector is affecting demand in certain product segments, but the direct impact of the lower Canadian dollar and lower fuel costs supports demand in other product lines.”
Manac said its backlog remains strong, at $157 million on June 20, compared to $165.3 million on March 28 and $112.3 million on June 21, 2014.
Have your say
This is a moderated forum. Comments will no longer be published unless they are accompanied by a first and last name and a verifiable email address. (Today's Trucking will not publish or share the email address.) Profane language and content deemed to be libelous, racist, or threatening in nature will not be published under any circumstances.