Business
Canadian Equipment Rental Fund Limited Partnership Announces Third Quarter 2008 Results
TSX Venture Symbol: CFL.UN CALGARY, Nov. 28 /CNW/ - Mr. Wayne Wadley, president of CERF GP Corp.,...
About this update from Zedcor Inc
[{"type":"text","content":"\n\n\n\nTSX Venture Symbol: CFL.UN\n\n\nCALGARY, Nov. 28 /CNW/ - Mr. Wayne Wadley, president of CERF GP Corp.,\nthe general partner of Canadian Equipment Rental Fund Limited Partnership\n("CERF"), is pleased to announce the results for the third quarter ended\nSeptember 30, 2008.\n\n\nHighlights of the three and nine month periods ended September 30, 2008\nwere:\n\n\n- Revenue for the quarter amounted to $3,020,798 representing an\n increase of 8% over the same quarter in 2007.\n\n- Net income increased 27% over the first nine months of 2007.\n\n- Net income per unit for the nine months ended September 30, 2008\n increased to $0.44 basic compared to $0.37 for the nine months ended\n September 30, 2007.\n\n- Distributions of $0.16 per unit were declared for the quarter, $0.48\n for the nine months.\n\n\nMr. Wadley comments, "CERF continues to grow its rental fleet and\ncustomer base which results in greater revenues and cash flows. There are a\nnumber of major infrastructure projects in progress and planned to begin in\nthe greater Edmonton area. These projects are funded in part by the Government\nof Alberta's 20 year infrastructure funding initiative. The provincial\nGovernments commitment to provide $6 billion a year to the municipalities for\ninfrastructure funding allows them to plan for and make long term commitments\nfor major projects including highways, bridges, and access roads, schools,\nmedical facilities, community facilities, water works and government\nbuildings. We are currently supplying rental equipment to contractors involved\nin these projects and expect that we will continue to supply equipment for\nfuture projects.\n\n\nResidential housing and condominium development in the Edmonton area\ncontinues to be slower than in recent years. This has translated into lower\ndemand for equipment servicing those sectors. However, with the onset of\nwinter weather, the heater and winter related equipment is now starting to be\nutilized.\n\n\nCERF continues to focus on equipment solution provision for our\ncustomers. Providing equipment to meet their demand in a timely manner has\nbeen a key to our success. We are looking forward to steady demand for our\nservices for the remainder of 2008 and continued into 2009."\n\n\nCanadian Equipment Rental Fund Limited Partnership\nOperating as 4-Way Equipment Re...