K-Bro Linen Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2024
November 13, 2024 at 06:02 pm EST
Share
K-Bro Linen Inc. reported earnings results for the third quarter and nine months ended September 30, 2024. For the third quarter, the company reported sales was CAD 104.47 million compared to CAD 86.89 million a year ago. Net income was CAD 8.13 million compared to CAD 6.67 million a year ago. Basic earnings per share from continuing operations was CAD 0.78 compared to CAD 0.63 a year ago. Diluted earnings per share from continuing operations was CAD 0.77 compared to CAD 0.62 a year ago.
For the nine months, sales was CAD 278.16 million compared to CAD 238.42 million a year ago. Net income was CAD 14.47 million compared to CAD 13.36 million a year ago. Basic earnings per share from continuing operations was CAD 1.38 compared to CAD 1.25 a year ago. Diluted earnings per share from continuing operations was CAD 1.37 compared to CAD 1.24 a year ago.
K-Bro Linen Inc. is an owner and operator of laundry and linen processing facilities in Canada. The Company provides a comprehensive range of general linen and operating room linen processing, management and distribution services to healthcare institutions, hotels, and other commercial accounts. It operates about ten processing facilities and two distribution centers under two distinctive brands, including K-Bro Linen Systems Inc. and Buanderie HMR, in ten Canadian cities: Quebec City, Montreal, Toronto, Regina, Saskatoon, Prince Albert, Edmonton, Calgary, Vancouver and Victoria. Its Canadian division provides laundry and linen services to the healthcare and hospitality sectors through ten operating divisions. The Companyâs UK division provides laundry and linen services primarily to the hospitality sector, with other sectors, including healthcare, manufacturing and pharmaceuticals, through five sites which are located in Cupar, Perth, Newcastle, Livingston and Coatbridge.