Winning with Finning International (FTT):
Finning announced the highest ever earnings for the company in the third quarter coming in at $52.7 million or 59 cents per share verse $36.2 million or 40 cents per share for the same quarter of 2005.
The company reported revenue of $1.41 billion a 25% increase from the $1.12 billion for the third quarter of 2005. The dramatic improvement is largely due to the increased activity in the commodity sectors in both Canada and South America.
The demand for basic material in China and India has driven the prices of base metals to historically high levels and Finning is the largest Caterpillar dealer with operations in Western Canada and Chile, Argentina, Bolivia and Uruguay.
The company has been in the right markets and offering the right equipment and services for an expanding mining industry in these regions which appear to have only just started to upgrade equipment and technology in order to increase production to take advantage of the higher demand
Finning is one of the companies held in the Growth portfolio and it was included due to exposure to the commodity sector and for exposure to the global growth being driven by increased demand form Asia. First purchased in January 2005 the shares are up over 41% and appear to have the momentum to go higher.
For more information go to www.campbellreport.com
The company reported revenue of $1.41 billion a 25% increase from the $1.12 billion for the third quarter of 2005. The dramatic improvement is largely due to the increased activity in the commodity sectors in both Canada and South America.
The demand for basic material in China and India has driven the prices of base metals to historically high levels and Finning is the largest Caterpillar dealer with operations in Western Canada and Chile, Argentina, Bolivia and Uruguay.
The company has been in the right markets and offering the right equipment and services for an expanding mining industry in these regions which appear to have only just started to upgrade equipment and technology in order to increase production to take advantage of the higher demand
Finning is one of the companies held in the Growth portfolio and it was included due to exposure to the commodity sector and for exposure to the global growth being driven by increased demand form Asia. First purchased in January 2005 the shares are up over 41% and appear to have the momentum to go higher.
For more information go to www.campbellreport.com
posted by Grant | 3:34 PM
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