Toromont Industries earns 20 percent revenue increase in 3rd Quarter 2013 on the strength of equipment sales to Baffinland Mining Project
Toromont Industries Ltd today announced it generated a 20 percent revenue increase during the 3rd Quarter of 2013 which ended September 30, 2013. During that time net earnings were 34% higher compared to the same period last year.
"We are very pleased with results through September 2013,” said Scott |J. Medhurst President and CEO of Toromont Industries.
Services to the mining sector are the prime reason why Toromont has had such a successful 3rd quarter according to Medhurst.
“ We booked and delivered a significant package of equipment to support the Baffinland Iron Ore mining project in Nunavut” said Medhurst,”, a testament to our strong product offering, service capability and diversity.”
Despite the strong sales to the mining sector over the 3rd quarter of 2013 period, the year to year sales for the mining sector continue to be 18 percent lower than this time last year.
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