Skip to main content

Construction equipment dealer Finning International Inc. reported record second-quarter earnings on higher revenues to due "exceptionally strong new equipment sales."

The Vancouver-based company, the world's largest Caterpillar dealer, said its second-quarter profit more than doubled to $82-million, or 48 cents per share, from $36-million, or 21 cents per share, a year ago.

Revenue increased to $1.49-billion from $1.07-billion.

Story continues below advertisement

The company saw higher profitability in Canada, the United Kingdom, and Ireland on strong demand for products and service.

Finning is currently negotiating with Caterpillar regarding the potential purchase of some distribution rights regarding a new Caterpillar acquisition.

But the company said it predicts third-quarter results will be partially impacted by a five-week strike in British Columbia, but the outlook for mining, construction and power systems remains strong for the next two years.

Report an error
As of December 20, 2017, we have temporarily removed commenting from our articles as we switch to a new provider. We are behind schedule, but we are still working hard to bring you a new commenting system as soon as possible. If you are looking to give feedback on our new site, please send it along to feedback@globeandmail.com. If you want to write a letter to the editor, please forward to letters@globeandmail.com.