The most profitable companies in British Columbia have had their net income grow an average of 32.2%, or $34.4 million, to $141.2 million in 2017 from $106.9 million in 2013.
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The median net income nearly doubled during the same period, growing 86.3% to $26.9 million in 2017 from $14.4 million in 2013. This suggests that companies lower on Business in Vancouver’s list of B.C.’s top 100 most profitable companies had greater growth than those higher on the list.
Despite the significant gains in profitability of companies that were on the list in both 2014 and 2018, the number of firms that fell in rank exceeded by two the number that rose.
The company that moved furthest in rank on the list was Sierra Wireless (TSX:SW), which fell 53 positions to 82nd in 2018 from 29th in 2014. The drop was the result of a 90.5% plunge in net income, which fell to $5.4 million in 2017 from $56.7 million in 2013.
The highest jump in the list’s rankings was that of No. 12, Pure Industrial Real Estate Trust (TSX:AAR.UN), which moved up 28 spots from 40th in 2013. During the five-year period, the company increased its net income by $266.8 million, or 758.3%, to $302 million in 2017 from $35.2 million in 2013.
Of the five companies that fell the furthest on BIV’s list, Lions Gate Entertainment Corp. (NYSE:LGF) fell from the highest spot, trading in its 15th place rank in 2014 for 57th in 2018.
The company with the largest one-year increase in net income was No. 67, City Office REIT Inc. (NYSE:CIO), which increased its net income to $11.9 million in 2017 from $498,125 in 2016.
No. 100, First Credit Union, had the steepest one-year decline in net income, falling 87.2%, or $9.4 million, to $1.4 million in 2017 from $10.7 million in in 2016
