WINNIPEG, Manitoba, June 05, 2024 — : The North West Company Inc. today reported its unaudited financial results for the first quarter ended April 30, 2024. It also announced that the Board of Directors has declared a quarterly dividend of $0.39 to shareholders of record on June 28, 2024, to be paid on July 15, 2024.
Selling, Operating and Administrative Expenses Selling, operating and administrative expenses increased $8.6 million or 5.7% compared to last year and were up 41 basis points as a percentage to sales. The increase in Expenses is mainly due to cost inflation impacts, including higher wage costs, an increase in depreciation and new store expenses. These factors were partially offset by lower share-based compensation costs primarily due to adjustments from changes in the Company’s share price.
Earnings Before Interest, Income Taxes, Depreciation and Amortization is not a recognized measure under IFRS. Management believes that in addition to net earnings, EBITDA is a useful supplemental measure as it provides investors with an indication of the Company’s operational performance before allocating the cost of interest, income taxes and capital investments.
Certain share-based compensation costs are presented as liabilities on the Company’s consolidated balance sheets. The Company is exposed to market price fluctuations in its share price through these share-based compensation costs. These liabilities are recorded at fair value at each reporting date based on the market price of the Company’s shares at the end of each reporting period with the changes in fair value recorded in selling, operating and administrative expenses.
Source: News Formal (newsformal.com)
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