TORONTO, May 04, 2021 (GLOBE NEWSWIRE) -- Toromont Industries Ltd. (TSX:TIH) reported its financial results for the first quarter ended March 31, 2021.
Toromont's first quarter results reflect our people's unwavering commitment to meet our customer needs as we continue to navigate through a complex operating environment, stated Scott J. Medhurst, President and Chief Executive Officer of Toromont Industries Ltd. The Equipment Group reported strong prime product deliveries, reflecting improved activity levels in the quarter. CIMCO revenues increased with good progress on its order backlog. Product support activity, particularly in the recreational markets, continues to reflect the impact of COVID restrictions. Operational efficiencies with continued focus on expense disciplines resulted in solid bottom line growth.