Out of the top 10 most profitable companies, most have had an income growth trend since 2010. The most profitable company, Telus, has raised its net income by over $400 million since 2010 but experienced a 3% drop in net income from 2014 to 2015. BC Lottery Corp. and BC Liquor Distribution Branch also had net income drops in the tens of millions of dollars.
HSBC Bank Canada (TSX:HSB) is the only company in the top 10 that had less net income in 2015 than it did six years ago. After rising from $610 million in 2010 to a high of $750 million in 2012, HSBC Bank Canada’s income fell by over $300 million to $447 million in 2015. While other corporations among the top 10 most profitable companies had some decrease in income since 2010, all except HSBC Bank Canada trended upwards.
There are also a number of companies new to the top 10 positions. In 2012 SouthGobi Resources Ltd. (TSX:SGQ) was No. 34 on BIV’s list; now it is No. 9. SouthGobi made a return to BIV’s list this year after its profits rose by 300%, from a net negative of $114 million to a positive $239 million. Turquoise Hill Resources Ltd. (TSX:TRQ) is new to BIV’s top-100 list, pulling in at No. 6 after increasing its profit by 248% – from negative $264 million to almost $400 million.
2016 is also the first year that Lululemon Athletica Inc. (Nasdaq:LULU) and Lions Gate Entertainment (NYSE:LGF) have cracked the top 10. Last year Lululemon just missed the cut, ranking as the 11th most profitable company in B.C. with $266 million. This year, it ranks seventh with $345 million in income, increasing 30% from 2014. Lions Gate Entertainment ranked 10th, posting $206 million in net income, up from $165 million in the previous year. Telus and BC Lottery Corp. each held their top ranking positions for the third year in a row.
