B.C.'s largest public companies collectively reported 13.6% more revenue in 2017 than they did in 2016, according to Business in Vancouver’s Top 100 Public Companies in B.C. list (pages 15, 16, 18, 19, 20) .
Their revenue on average in 2017 was $926 million compared with $815.5 million in 2016. Companies on BIV’s top-100 list are ranked based on revenue earned the previous year.
For the second consecutive year, Turquoise Hill Resources Ltd. (TSX:TRQ) posted the most gains on BIV’s list. It moved up 48 spots to 14th in 2018 from 62nd in 2014 based on its 975.7% increase in revenue to $1.2 billion in 2017 from $113.4 million in 2013.
WesternOne Inc. (TSX:WEQ) dropped the farthest down the list over the same period: to 72nd in 2018 from 33rd in 2014 after suffering a 78.9% decline in revenue to $79.6 million in 2017 from $377.6 million in 2013.
WesternOne’s net loss also increased 41% to $24 million in 2017 from $17 million in 2013.
Three companies made the 2018 list after reporting hundreds of millions in revenue in 2017 compared with none in 2016.
Leagold Mining Corp. (TSX:LMC) (No. 49) generated revenue of $251.5 million in 2017 after reporting no revenue in 2016.
The company on the list with the largest one-year increase in revenue was No. 97 Equinox Gold Corp. (CVE:EQX). Its revenue jumped 1,609.4% to $20.1 million in 2017 from $1.2 million in 2016. Equinox did not make the list in 2017.
UrtheCast (TSX:UR) posted the largest one-year revenue drop on the top-100 list: 63.7% to $40.4 million in 2017 from $111.3 million in 2016. The company consequently fell 20 places in list ranking to 83rd in 2018 from 63rd in 2017. •
