Higher profits offset lower Q2 revenues for BRP

> Subscriber-only, By Arlene Sloan and Craig Ritchie2020-08-28T13:18:00

Recreational products manufacturer BRP said Q2 delivered better than expected results driven by strong worldwide retail demand for its portfolio, including PWCs and boats. Wind-down of the Evinrude outboard business was reflected in a 35% drop in marine revenues.

Canada’s BRP reported its financial results today for the three- and six-month periods ending July 31, 2020. Revenues for second quarter were C$1.23 billion, down 15.5% from the same period last year, while profitability was up. Normalised net income increased 47% to C$101 million from $69 million in fiscal 2019. First half revenues for 2020 were off 12% to C$2.46 billion compared to last year, with net income up 2% to C$123.6 million. In his opening remarks to analysts, CEO José Boisjoli…

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