Contacted WajaxI contacted Wajax about their figures and they responded to me immediately. This is what they had to say.
Thanks for bring this to my attention. Seems there is a debate about semantics here. What we are saying is that the margin decrease would have been 430bps, which is stated as 4.3% to remain consistent with the rest of the disclosures. This is related to measures we chose to take to reduce our used equipment inventory levels which are discussed in the MD&A. I would also note that the CEWS impact is shown on a pretax basis so the conclusion regarding the $5.3m loss in inaccurate.
Regards,
Trevor
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