BRP Inc. reported a fourth-quarter profit of $365.1 million, up from $209.6 million a year earlier, as its revenue rose 31 per cent to a record high.
The Ski-Doo and Sea-Doo maker says its profit amounted to $4.54 per diluted share for the quarter ended Jan. 31, up from $2.50 per diluted share a year earlier.
Revenue for the fourth quarter of the company's 2023 financial year totalled $3.08 billion, up from $2.35 billion.
BRP says its normalized profit for the quarter was $3.85 per diluted share, up from a normalized profit of $3.00 per diluted share a year earlier.
In its outlook, the company says it expects revenue for its 2024 financial year to grow in a range of nine to 12 per cent compared with its 2023 financial year. Normalized diluted earnings per share for the 2024 financial year are expected to fall within a range of $12.25 to $12.75, an increase of two to six per cent.
BRP also raised its quarterly dividend to 18 cents per share compared with its previous rate of 16 cents per share.