Five Year Review

Revenue

($ in thousands)

$2,283,411

  • 15
    $2,031,718
  • 16
    $2,143,736
  • 17
    $2,215,379
  • 18
    $2,241,437
  • 19
    $2,283,411
Net Income

($ in thousands)(1)

$121,885

  • 15
    $76,629
  • 16
    $83,591
  • 17
    $96,593
  • 18
    $111,030
  • 19
    $121,885
Shareholders’ Equity

($ per share)

$11.80

  • 15
    $8.43
  • 16
    $9.20
  • 17
    $10.60
  • 18
    $11.23
  • 19
    $11.80
Income Statistics
$ in thousands, except amounts per share 2019(1) 2018 2017 2016 2015
Revenue $2,283,411 $2,241,437 $2,215,379 $2,143,736 $2,031,718
Cost of sales 1,284,826 1,264,561 1,261,112 1,228,499 1,145,593
Gross Profit 998,585 976,876 954,267 915,237 886,125
Operating expenses 835,392 826,286 822,838 801,049 784,706
Income before income taxes 163,193 150,590 131,429 114,188 101,419
Provision for income taxes 41,308 39,560 34,836 30,597 24,790
Net income $121,885 $111,030 $96,593 $83,591 $76,629
Common shares outstanding ('000s) 77,595 76,368 72,904 71,696 71,218
Earnings per common share $1.57 $1.45 $1.32 $1.17 $1.08
Percent annual change in sales 1.9% 1.2% 3.3% 5.5% 1.2%
Net income as percentage of sales 5.3% 5.0% 4.5% 3.9% 3.8%
Dividend declared $43,445 $39,716 $35,136 $28,691 $28,501

(1) Net income excludes the impact of IFRS 16 in the 2019 fiscal year, refer to the Company′s MD&A for details regarding the implementation of IFRS 16 on January 1, 2019. The comparative periods have not been restated.

Balance Sheet Statistics
$ in thousands, except amounts per share 2019 2018 2017 2016 2015
Shareholders′ equity $915,764 $857,362 $773,048 $659,553 $600,402
Total assets 2,129,934 1,723,572 1,661,455 1,611,662 1,583,463
Purchase of capital assets 32,931 19,650 55,041 25,689 22,756
Working capital(2) 127,371 198,445 162,328 128,788 65,419
Shareholders′ equity per common share 11.80 11.23 10.60 9.20 8.43
Common share price range on the Toronto Stock Exchange
High $17.29 $19.50 $19.57 $18.75 $19.38
Low $14.01 $14.70 $16.19 $13.08 $12.61

(2) 2018 excludes the amount of $144,712 comprised of loans and borrowings due to the classification from non-current liabilities to current liabilities as at December 31, 2018.