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Wajax Improves Net Earnings, Adds JCB

MISSISSAUGA, Ontario — Wajax, a Canadian distributor and one of Canada's top rental companies, recently obtained the distribution rights to the JCB construction equipment line for northern Ontario, Manitoba, Saskatchewan and most of British Columbia. Wajax already represents the line in Quebec and the Maritimes.

Wajax also announced improved first quarter net earnings of about U.S. $1.8 million, up from about $790,000 for the same period last year, even though total revenue declined year over year from about $157 million to about $151.6 million.

“We are generally pleased with our performance in what is traditionally our softest quarter as we started off slowly but picked up momentum in late February and March,” said president and CEO Neil Manning. “We are also excited about our expanded representation of the JCB product line. We have steadily grown this line over the last few years in eastern Canada and we look forward to building the JCB brand in our new areas of responsibility. Going forward we remain optimistic about continued improvements in our profitability with solid backlogs in most businesses.”

Wajax is No. 40 on the RER 100 with U.S. $29.2 million in 2003 rental revenue and $326.0 in total revenue. It has 31 branches in Canada.

TAGS: Ar Rental News
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