B.C.’s 100 most profitable companies are earning less and growing slower than they did five years ago.
They earned an average net income of $102.8 million in 2016. That’s 23% less than the 100 most profitable companies earned in 2012, according to Business in Vancouver’s Top 100 Most Profitable Companies list.
The top 100 also reported a significantly slower one-year earnings growth rate in 2016 than they did five years earlier.
Their average net income in 2016 versus 2015 grew 223.7% compared with 379.5% in 2012 versus 2011.
Forestry industry companies moved up the most in list rankings over the five-year period and include CanWel Building Materials Group Ltd. (TSX:CWX), Canfor Pulp Products Inc. (TSX:CFX) and Canfor Corp. (TSX:CFP).
CanWel posted the largest jump in rankings – 37 positions to 35th this year from 72nd in 2013 – based on a 524% net income growth over the five-year period (to $49.9 million in 2016 from $8 million in 2012).
While forestry companies fared well over the past five years, miners, specifically silver miners, did not.
The five companies that dropped the furthest on the Top 100 list were in the mining industry. Three specialized in silver mining.