CERF revenues up 31 per cent
By Pat FlanneryNews
June 29, 2011 - Canadian Equipment Rental Fund, owner of 4-Way Equipment Rentals in northern Alberta, said first quarter 2011 revenues were up 31 per cent over the same period last year. CERF CEO Wayne Wadley pointed to 4-Way Rentals' strong performance as a contributor to the improved results.
The report noted EBITDA increased 15 percent and income per limited partnership unit was six cents, down from eight cents in 2010.
CERF completed its acquisition of Maplethorpe Contractors, and Edmonton waste services company, at the end of April. Wadley said MCL brings a number of "interesting" opportunities with it, and will work with 4-Way and Smart Way (CERF's other waste-handling company) on marketing and coordination of services.
Wadley said 4-Way's growth is coming from the number of construction projects under way in the area, and the company is benefiting from 2010 decisions to increase staffing and rationalize the rental fleet. The company anticipates continued strong investment in the oil sands with related growth in construction and infrastructure projects through 2012.
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