Canadian RV rental firm CanaDream Corp. reported its rental revenue increased 10% during the three months ended Oct. 31, despite higher fuel costs.
The company’s rental revenue totaled $5.3 million (Canadian) during the August-through-October period, and its rental revenue during the six months ended Oct. 31 was up 6% to $10.5 million (Canadian).
One Canadian dollar now is worth a little less than 65 cents in U.S. currency.
RV rental revenue was up because customers traveled shorter distances instead of canceling their trips, according to the Calgary, Alberta-based firm.
Meanwhile, CanaDream’s revenue from the sales of RVs taken out of its rental fleet declined 10% during the six months ended Oct. 31 to $2.7 million (Canadian). This occurred because units originally scheduled for sale on the used market were retained in the rental fleet due to the increase in rental demand, according to the company.
CanaDream’s pre-tax income declined 5% to $3.4 million (Canadian) during the six months ended Oct. 31 because it set aside $1.5 million (Canadian) for future income tax payments.