BMTC Group Inc. (TSE:GBT) has released an update.
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BMTC Group Inc. faced a decline in annual revenues by 19.4% to $578.9 million, influenced by a reorganization that resulted in fewer sales points and a 17% drop in same-store sales. Despite higher interest rates affecting financed sales, the company increased its net earnings to $47.4 million and maintained gross margins by cost reductions. Additionally, the firm’s share repurchase program modestly boosted earnings per share, and a strategic sale of a distribution center yielded a significant gain.
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