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IBI Income Fund 2007 revenue up 18%

IBI Income Fund has reported that its revenue for the year ended December 31, 2007 increased $28 million or 18.4% to $179.9 million from the 2006 revenue of $151.9 million.

The net earnings before non-controlling interest of the fund for the year were $25.4 million or $1.86 per unit on a fully diluted basis, a decline when compared with $17.1 million or $1.32 per unit for the year 2006.

For the year 2007, EBITDA rose 18.9% to $31.8 million from $26.8 million reported in 2006, compared to 18.7% growth in revenue.

For the fourth quarter ended December 31, 2007, revenue improved $9.8 million or 24.6% to $49.7 million from $39.9 million for the same period in 2006. The net earnings before non-controlling interest were $4.9 million or $0.35 per unit on a fully diluted basis, a decrease as against $3.5 million or $0.26 per unit for the 2006 comparable quarter.

The EBITDA for the period was $8.2 million, up 19.2% from $6.8 million for the corresponding period in 2006.