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Our annual review of Manitoba-based companies gives us an opportunity to reflect on the corporate strength we have within our province. For example, it seems like it was only a few years ago that financial giant Great West Lifeco (GW0 TSX) was at $4 billion in gross sales and now here we are looking at the companys gross revenues of $27.3 billion for 2006.
While its net of $1.9 billion doesnt seem much compared to the front end, it surely is. Managing money is no easy task and while my calculator gets the jitters when it ventures among these lofty numerics, GWO, No. 1 on our list, continues to grow its bottom line through acquisitions. Its an interesting story but to long for this space.
But it doesnt take a genius to understand that President & CEO Ray McFeetors, GWOs board of directors and company owner, Power Corporation, of Montreal, are good strategists.
Its worth it to own the publicly-traded company in your portfolio. I bought the shares many years ago at $18.25 and the trading volume was not large. I have never sold. The shares rose to $40 a couple of years after I bought it, then they split two for one and rose again to $40, and split again and are now trading around $34. I continue to buy because to me it seems the right thing to do besides investing in my home.
Another strong Manitoba performer lately CRVD Inco, based at Thompson is another powerhouse. The companys CEO Mike Sylvestre, a genuine, low key man, has watch gross income flare to $1.5 billion, a 50 per cent hike over last year. The buy out has put Mike in charge of other nickel mines as well but he remains in Flin Flon with the 1,600 workers whose home is there. He has visited head office in Brazil and has made the Manitoba connection and likes what he sees.
While these international performers are important to the economy of this province, family-owned grain based companies James Richardson, &Sons No. 6 at $2.2 billion under President & CEO Hartley Richardson and Paterson Global Foods at No. 21 with gross revenues of $431 million under Andrew Paterson, are gracious enough to share their gross revenue figures with us so that we can proudly share how significant their presence is to this province.
While these are muscular companies who have long been strong, there are others which have decided for their own reasons not to offer their numbers and we respect their needs.
But we are especially thankful for CEOs like Doug Buhler at Buhler Furniture, $13.1 million (No. 86) who are just as important to our task. In fact our research team cheered him as Buhler Furniture filed, as requested. Our sentiments are the same for partners Colin LeGrand, Rick Gergatz and Fred Haas at ArrowCorp, with gross salesof $8 million earned them ranking No. 96 and finally Prairie Orchard Farms, that, under President Bill Hoffman, earned gross earnings of about $3.5 million and rounded out our review at No. 100. They are especially important to this magazine in its attempt to offer our readers a general view of the varied corporate energies this province has to offer. We wish all of them the best of luck in the future.
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