Boyd Group Income Fund Reports 31.7 Percent First-Quarter Increase in Sales
May 11, 2012
The Boyd Group Income Fund, which owns Boyd Autobody and Glass, Gerber Collision and Glass and Gerber National Glass Services, has reported that its sales increased by 31.7 percent to $107.4 million for the first quarter of 2012, compared with $81.6 million in the first quarter of 2011.
The company’s same-store sales decreased by 0.4%, excluding the impact of foreign exchange translation, and its gross margin increased to $47.9 million, a 44.6 increase over its gross margin for the first quarter of 2011, $36.8 million.
“We are pleased with our achievements for the quarter,” says Brock Bulbuck, president and chief executive officer. “We made significant progress towards our growth goals for the year and we posted respectable results despite the weather-related challenges of the mild and dry winter. Total same-store sales were only down slightly, and U.S. same-store sales recorded modest positive growth. Our acquisitions of Cars Collision and Master Collision over the last 12 months, as well as the addition of new single locations, have been positive to our business. We will continue to evaluate similar attractive opportunities as part of our growth strategy. We believe that this strategy, combined with our strong industry position, has helped us mitigate the softer market in the first quarter.”
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