Business News

Groupe Distinction Reports its Results for the Second Quarter of 2008

2008-07-15 15:31:00

Groupe Distinction Reports its Results for the Second Quarter of 2008

– Distinction increases its Q2 net income by over 8%

– Omni and Empro acquisitions will boost annual sales from $99 million to $222 million as of Q3

MONTREAL, QUEBEC–(EMWNews – July 15, 2008) – Groupe Distinction Inc. (the “Company”) (TSX:GD), a Canadian leader and most trusted commercial building janitorial services company, reported its results today for the second quarter and six months ended May 31, 2008.

For the second quarter ended May 31, 2008, revenues rose 3.5% to $26.1 million from $25.2 million for the same period in 2007. Excluding the disposal of the Steamatic Metropolitain Inc. subsidiary in June 2007, sales for the quarter rose by 11.4%. This increase was mainly attributable to the janitorial and mechanical maintenance services segment, and more specifically to the growth in sales for subsidiary Service d’entretien Distinction Inc. (SEDI) in Ontario and Quebec City, as well as in the hotel and industrial markets. Revenues for the first six months of the year grew 4.1% to $51.2 million from $49.2 million in the same period of 2007.

The Company posted a net income of $797,501 or $0.025 per share, fully diluted, for the second quarter of 2008, compared to $737,777 or $0.035 per share, fully diluted, in 2007. Net income for the first six months of the year amounted to $1.6 million or $0.050 per share, compared to $1.5 million or $0.072 per share in 2007.

The financial statements and management discussion and analysis can be found on the SEDAR website at www.sedar.com.

Omni and Empro Acquisitions

In June 2008, the Company closed two major acquisitions, purchasing Omni Facility Services Canada Limited (“Omni”), one of Canada’s largest and most diversified building service contractors, and Service d’entretien Empro Inc. (“Empro”), the leader in the building maintenance industry in the greater Quebec City area.

These acquisitions will increase Groupe Distinction’s annual sales to over $222 million ($99 million in 2007) and its manpower to over 8,800 employees and strengthen its portfolio of services across Canada. The financial results of Omni and Empro will be reflected in the Company’s consolidated results as of the third quarter of 2008.

About Groupe Distinction Inc.

Distinction is a Canadian leader in janitorial services. Through its subsidiaries, Distinction provides a range of industrial janitorial, mechanical maintenance and other related services to various segments of the real estate industry.

Additional information on the Company can be found on the SEDAR website at www.sedar.com.

Forward-Looking Statements

This press release may contain certain “forward-looking statements”, including, but not limited to, statements regarding the strategic plans, future financial results and overall outlook for the Company. Forward-looking statements express, as of the date of this press release, the Company’s plans, estimates, forecasts, projections, expectations and opinions regarding future events and results. Forward-looking statements are subject to certain risks and uncertainties, many of which are beyond the Company’s control. There can be no assurance that such statements will prove to be accurate. Consequently actual results and future events may differ materially from those anticipated by such statements. Risks and uncertainties that could cause actual results and future events to differ materially from the current expectations expressed or implied by such forward-looking statements include, but are not limited to, the risks described in the management discussion and analysis for the period ended May 31, 2008. Readers should not rely unduly on such forward-looking statements.

For more information, please contact

Groupe Distinction Inc.
Roger Boucher
Chief Financial Officer
[email protected]

or

Groupe Distinction Inc.
Emmanuelle Dube, LL.B
Investor Relations
514-368-1504
[email protected]
www.distinction.ca

free cash grants, free grant money, free money, cash grants, scholarships, business grants, foundation grants, government grants, debt grants, consolidation, college tuition, financial aid, medical grants, personal grants, medical bills, unsecured loans, no interest loans, financing, loans, capital, non profit organizations

Major Newsire & Press Release Distribution with Basic Starting at only $19 and Complete OTCBB / Financial Distribution only $89

Get Unlimited Organic Website Traffic to your Website 
TheNFG.com now offers Organic Lead Generation & Traffic Solutions





























Senny Lorry

My great passion is bringing healing to people who have been through a traumatic/stressful experience. I help my clients, who include children, adults and families, to find healthy perceptions of themselves and strengthen their relationships so they can know themselves as peaceful, complete, whole and safe. Senny is our CrowdFunding Specialist

Related Articles

Back to top button