Rental Demand Strong in Canada
The rental demand for RVs was strong in Canada this past summer, which helps explain CanaDream Corp.’s 8% increase in revenue during the three months ended July 31.
The company’s sales during the May-through-July period totaled $6.1 million (Canadian), compared with $5.6 million (Canadian) a year earlier.
One Canadian dollar is worth 73.4 cents in U.S. currency at current exchange rates.
Meanwhile, CanaDream’s net earnings were flat at $1.3 million (Canadian) due to higher interest and depreciation expenses as a result of the company increasing the size of its fleet prior to the beginning of its peak season, said Brian Gronberg, president and CEO.