Gaz Metro has reported adjusted net income of C$149 million for the fiscal year ended September 30, 2007, which is C$1.8 million higher than the previous year.
Adjusted net income per unit, which excludes the impact of the future income tax liability, is C$1.24, down C$0.01 from 2006. The average number of outstanding units is 2.9 million, or 2.5%, higher in 2007, following the October 2006 unit issue. Net income per unit is C$1.02, which is C$0.23 less than in 2006.
Consolidated revenues for the fiscal year ended September 30, 2007, are down by C$46.3 million, or 2.3%, to C$1.96 billion from C$2.01 billion in the previous year. Consolidated gross margin of C$623.6 million is up 8.2%, or C$47.3 million, compared to the previous year.
Sophie Brochu, president and CEO of Gaz Metro, said that the firm’s efforts to expand its presence in the residential and commercial markets had been successful during 2007. She said: In 2007, more than 7,000 new customers joined the customer ranks Gaz Metro has the privilege of serving.