The Canadian Equipment Rental Fund, doing business as 4-Way Rentals, more than doubled revenue in 2006, the company reported last week. Total revenue jumped from CD $4.7 million (more than U.S. $4.1 million) to $10.2 million (about U.S. $9.1 million). The company increased net income by 289 percent from CD $588,000 to CD $2.3 million.
The company raised $4 million in equity in the fall, helping it grow its fleet asset base from $4.3 million to $9 million.
“Since our inception, we had identified three key strategic that we continue to actively pursue,” said Wayne Wadley, president. “We’re focused on driving up revenue, margin growth and increasing our return on capital by meeting our customers’ needs.”
Based in Calgary, Alberta, CERF is benefiting from a period of strong economic growth in the province.