December 9, 2016 / 11:12 AM / 3 years ago

Ski-Doo snowmobile maker BRP posts better-than-expected profit

A ski-doo passes by in the finish area of the Alpine Skiing events of the Sochi 2014 Winter Olympic Games in Rosa Khutor February 4, 2014. REUTERS/Leonhard Foeger

(Reuters) - Canada’s BRP Inc (DOO.TO), the maker of Ski-Doo snowmobiles and Sea-Doo watercraft, reported a better-than-expected quarterly profit as it sold more year-round products.

The company also raised its current-year adjusted earnings forecast to C$1.86-C$1.96 per share, from C$1.82-C$1.92.

BRP, which has operations and clientele across the Americas and Europe, also raised its revenue growth forecast for the year ending January to 5-9 percent from 4-8 percent.

The company’s revenue from year-round products, which includes recreational vehicles, rose 47.6 percent in the third quarter, from a year earlier.

The company’s net profit attributable to shareholders rose 20 percent to C$78.7 million ($59.8 million), or 70 Canadian cents per share, in the quarter ended Oct. 31 from a year earlier.

The company, which sells in more than 100 countries, reported adjusted earnings of 93 Canadian cents per share. Analysts on average had expected 75 Canadian cents, according to Thomson Reuters I/B/E/S.

Valcourt, Quebec-based BRP’s revenue rose about 7 percent to C$1.08 billion, beating the average analyst estimate of C$1.04 billion.

Reporting by Komal Khettry in Bengaluru; Editing by Maju Samuel

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