Toromont posts 31% growth in Q4 net profit
TORONTO - Toromont Industries Ltd. (TSX:TIH) is crediting strong growth in product support and rental activity was well as improved margins for a big, 31 per cent increase in fourth-quarter profits. The Toronto-based Caterpillar dealership and refrigeration manufacturer and installer says net income in the three months ended Dec. 31 was $44.9 million or 59 cents per share. That was up from $34.2 million or 44 cents per share in the same prior-year period. Revenues rose six per cent to $431.1 million from $408.4 million.