Intertain claims record profits in first quarter

Intertain Group has revealed that it was able to hit record profit levels during the three months to March 31, with the company also reporting a sharp increase in revenue.

Revenue in the first quarter totalled CAN$128.5 million (€87.5 million/US$99.8 million), which represents a significant jump on the CAN$32.8 million posted in the same period last year.

Net income hiked from a loss of CAN$26.2 million in Q1 of 2015 to a positive figure of CAN$10 million this year, while operating cash flow also rocketed from CAN$7.1 million to CAN$52.2 million.

Elsewhere, adjusted earnings before interest, tax, depreciation and amortisation jumped from CAN$10 million to CAN$55.1 million, with adjusted net income up from CAN$10 million to CAN$46 million.

As a result, adjusted net income per share increased from CAN$0.25 to CAN$0.62, while net income per share improved from a loss of CAN$0.80 to a positive of CAN$0.14.

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