Canadian Underwriter

Hi-Alta revenue continues to grow in 2001

April 4, 2002   by Canadian Underwriter

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Broker consolidator Hi-Alta Capital Inc. (TSE: HIA) saw increased revenue and net income for the financial year ended December 31, 2001, the company’s sixth year of operation.
Acquisitions played a key role in the company’s growth, with 9 agencies in 11 communities added to Hi-Alta’s Western Insurance Network last year, as well as the addition of new products and services. And with the recent addition of six more offices, Hi-Alta’s assets under management now exceed $200 million.
Revenue grew 14% to $22.5 million for 2001, versus $19.7 million in 2000. Earning before tax (EBITDA) grew to $5 million last year, as compared with $4.29 million the year prior, a change of 15.5%. And net income rose 113% to $991,800, versus $455,500 in 2000.
Again in 2001, Hi-Alta is on the Profit 100 ranking of the country’s fastest-growing companies, in 24th position.
The company plans continued acquisition and product expansion moving ahead. Currently it serves 44 communities in Alberta, B.C. and Saskatchewan.

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