Sabik acquisition drives Carmanah’s $10.7-million profit

Andrew Duffy / Times Colonist

Wednesday, March 30, 2016

The timely acquisition of Finland-based Sabik Group drove Victoria-based Carmanah Technologies to a $10.7-million profit in 2015, according to financial results released this week.

The profit was a massive shift from the $1 million earned in 2014.

“In all respects, Sabik has exceeded our expectations,” said Carmanah chief executive John Simmons.

Carmanah's signals division, which includes Sabik aquired in July 2015, reported strong growth and generated $12.5 million in revenue in the fourth quarter, a 59 per cent improvement over the same period in 2014. 

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