Business
Canadian Equipment Rental Fund Limited Partnership announces year-end results
Canadian Equipment Rental Fund Limited Partnership announces year-end results.
About this update from Zedcor Inc
[{"type":"text","content":"\n\n\n\n\nEDMONTON, April 13 /CNW/ - Mr. Wayne Wadley, president of CERF GP Corp.,\nthe general partner of Canadian Equipment Rental Fund Limited Partnership (the\n\"Partnership\"), is pleased to report the results for the nine month period\nending December 31, 2005. Becoming a limited partnership necessitated the year\nend change to December 31. Therefore, the nine month period ending\nDecember 31, 2005 is compared to the previous eleven month March 31, 2005\nperiod end of 4-Way Equipment Rentals Ltd.\n\nYear-end highlights include:\n- Total revenues of $4,657,210 for nine months compared to $4,679,197\n for previous eleven months\n- Cashflow of $1,151,731 for nine months compared to $905,562 for\n previous eleven months\n- Earnings of $588,404 representing $0.21 per unit basic for the nine\n months compared to $357,495 for previous eleven months\n- Net additions of $850,128 of equipment to the fleet.\n\nMr. Wadley comments, \"This marks our first year-end as a publicly trading\nlimited partnership. The growth in business the 4-Way Equipment Rentals Ltd.\nexperienced over the past several years continues into the partnership\nstructure. Utilization rates remain extremely high as our customers continue\nto be very active in all sectors. Demand for equipment and manpower challenge\nboth the partnership and our customers alike. With nine month revenues almost\nmatching the previous eleven month numbers, activity remained very brisk\nthroughout the fall and winter. Significant capital additions to the rental\nfleet were made throughout the period to address customer demand. These\nadditions also served to increase revenue which translated directly into an\nincrease in profitability. Cash distributions also began in a timely fashion\nas the first payout was made on December 23, 2005 and another scheduled for\nApril 14, 2006.\"\n\n>\n\n%SEDAR: 00022335E\n\n\n","length":10690,"tagName":"div"}]