BRP today reported sales of C$1.24bn for its third quarter ended October 31, 2017. Companywide sales were 15% up over the previous period, representing a record third quarter. Net income was C$77.8m compared to C$78.7m a year ago.
The company’s seasonal products, which includes Sea-Doo personal watercraft, rose to C$491.7m compared C$417.1m for the same period a year ago. The increase, according to a statement, was primarily due to earlier shipments and a more favorable product mix of its snowmobiles. Its Propulsion Systems business reported a slight decline in sales to C$93.5m from C$94.2m a year ago. The decrease was mainly due to currency issues.
"Overall, considering industry trends, the competitive landscape and the global economy, I am pleased by our strong results," said Jose Boisjoli, BRP president and CEO, in the statement. "I am confident that we will deliver on our full-year guidance, including growth in normalised earnings per share of 15% to 20%."
Boisjoli said the company was announcing a second phase of investment to increase its SSV vehicle platform and powertrain production capacity. "This decision is testament to the strong growth we see with our Can-Am side-by-side business and our commitment to further developing it,” he added. That should be completed by fiscal 2020.