Post by
tesh on Feb 14, 2014 10:04am
Acquisition and development guy announcement
Well, there's your answer. He's being let go. The announcement also goes on to say that the focus of the company is more fully centred on Alberta - basically stated that Ontario is not a priority and therefore no need for the acquisition person based there. A little concerning regarding the long term potential of BPE if they have decided not to pursue growth in Ont (I guess probably for the concerns expressed in the past). I'm looking forward to their year end conference call where hopefully they reiterate how they are going to reach their $10 million EBITDA goal now that there geographic growth focus is more restricted.
Comment by
tesh on Feb 14, 2014 1:53pm
Don't give up hope yet. I personally think that they can reach $10 million EBITDA with as few as 7,000 spaces via a combination price increases, increased occupancy and cost reductions. Their last conference call did not mention the numbers but clearly said that the majority of the improvement to the target EBITDA was not space expansion driven. Let's see.
Comment by
bull_man on Feb 14, 2014 2:53pm
did i call it or what? regardless, by focusing on alberta alone has brought this company's growth potential to a screeching halt; looks like there's nothing else to buy, anywhere, and building new centres takes years before contributing to the bottom line; another capital loss for me; damn!!!