Higher profits offset lower Q2 revenues for BRP

Recreational products manufacturer BRP said Q2 delivered better than expected results driven by strong worldwide retail demand for its portfolio, including PWCs and boats. Wind-down of the Evinrude outboard business was reflected in a 35% drop in marine revenues.

Canada’s BRP reported its financial results today for the three- and six-month periods ending July 31, 2020. Revenues for second quarter were C$1.23 billion, down 15.5% from the same period last year, while profitability was up. Normalised net income increased 47% to C$101 million from $69 million in fiscal 2019. First half revenues for 2020 were off 12% to C$2.46 billion compared to last year, with net income up 2% to C$123.6 million. In his opening remarks to analysts, CEO José Boisjoli…

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