Sportscene Group Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended February 23, 2014
Year-to-date net earnings and comprehensive income attributable to shareholders for the first half of fiscal 2014 thus amounted to CAD 1.6 million or CAD 0.39 per basic and diluted share on revenues of CAD 35.5 million against net earnings and comprehensive income attributable to shareholders of CAD 1.0 million or CAD 0.26 per basic and diluted share on revenues of CAD 34.1 million a year ago. The company attributes this growth to the good performance of the La Cage aux Sports network and to the success of the sporting events held in the second quarter. Earnings before tax were CAD 2.0 million against CAD 1.5 million a year ago. In the first half of the year, the company notably generated cash flows from operating activities of CAD 4.1 million against CAD 0.6 million a year ago. Acquisitions of property, plant and equipment were CAD 3.4 million against CAD 0.8 million a year ago. Revenues grew by 8.3% in the second quarter and 3.9% in the first six months of the year, mainly due to the performance of the La Cage aux Sports network combined with the acquisition of additional interests in certain Cages over the past 12 months.