Youth and adult hockey's popularity has helped Canlan Ice Sports Corp. (TSX: ISE) score higher profits, according to its most recent financials.
Total revenue for the Burnaby company's first six months of 2007 improved to $31.5 million, a 19.4% increase over the same period last year. Same store revenue of $27.9 million rose 5.8%, principally due to growth in the company's various hockey and soccer leagues, instructional programs and in-house tournaments.
Six-month net income was $914,000 compared with $320,000 a year ago.
Canlan president and CEO Grant Ballantyne said that continued revenue growth in adult and youth leagues showed demand was strong not only during the winter, but also through the summer.
He added that good camp registration results boded well for upcoming quarters.
Canlan shares share price range during the past week: between $0.08 and $0.09; 52-week high: $0.13; 52-week low: $0.05.