Bevo Agro enjoys strong 2015 sales

October 15, 2015
Written by
Oct. 15, 2015, Langley, B.C. – Bevo Agro posted double-digit sales and net earnings increases for its 2015 fiscal year.

Net earnings were $1,197,556 compared to $738,745 for 2014, a 62 per cent increase, excluding land revaluation.

Sales totalled $26,221,677, an increase of 12.5% over sales of $23,309,085 the previous year.

Earnings before interest, taxes, depreciation and amortization (EDITDA) increased by 21 per cent to $4,078,579 ($0.16 per share) for fiscal 2015 compared to EBITDA of $3,359,710 ($0.13/share) for the previous year ending June 30, 2014.

A combination of streamlining, growing efficiencies and product mix had positive effects on gross margins and profits.

Earnings before interest, taxes, depreciation and amortization (EDITDA) increased by 21 per cent to $4,078,579 ($0.16 per share) for fiscal 2015 compared to EBITDA of $3,359,710 ($0.13/share) for the previous year ending June 30, 2014.

Bevo Agro maintains a balance of fixed and floating rates on borrowings as a hedge against interest rate fluctuations. From a balance sheet perspective, the company maintains sufficient working capital to manage its business and maintain conservative financial ratios.

Bevo Agro is one of North America’s leading supplier of propagated agricultural plants, operating 45 acres of greenhouse facilities on 98 acres of land in Langley, B.C. and 20 acres of land in nearby Pitt Meadows.

The company’s main products are the propagation of vegetable plants such as tomatoes, peppers, cucumbers, and other plants such as bedding plants, flowers and grasses. The majority of Bevo’s sales result from repeat orders through recurring multiyear contracts.

Add comment


Security code
Refresh

Subscription Centre

New Subscription
Already a Subscriber
Customer Service
View Digital Magazine Renew

Most Popular

Latest Events

Poinsettia Open House
Tue Nov 20, 2018 @10:00am - 02:30pm
Farm Energy Workshop
Sat Nov 24, 2018
HortEast
Tue Nov 27, 2018
Great Lakes Expo 2018
Tue Dec 04, 2018 @ 8:00am - 05:00pm
Congress
Wed Jan 09, 2019

We are using cookies to give you the best experience on our website. By continuing to use the site, you agree to the use of cookies. To find out more, read our Privacy Policy.