Record sales for Cervus Equipment linked to strong Canadian ag sector

Pointing to the strength of the Canadian agriculture sector, Cervus Equipment Corp is reporting record sales in its latest quarter update.

“Once again (Cervus) generated a record sales quarter with the highest new equipment deliveries to customers for a single quarter in Cervus’ history,” president and CEO of Cervus Equipment, Graham Drake says. “In Ontario, our transportation dealership performance is continuing the positive trend from the first quarter of 2018, a result of efficiency improvements, cost management efforts, and positive market demand.”

Highlights of the quarter for the company include a $1.1 million dollar improvement in regards to income this year, compared to last year’s numbers, and an increase of new equipment sales by 24 per cent compared to the same second quarter last year.

In the news release, the company points out equipment sales continue to reflect the financial strength of Canadian farmers combined with sales efforts. Meanwhile, as farmers were a bit later than usual to hit the field in the spring,  parts and service revenues initially were delayed.

Primary brands represented by Cervus are John Deere agricultural equipment; Peterbilt transportation equipment; and Clark, Sellick, Doosan and JLG material handling equipment.

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