BBE feels recovery due soon

NNSL (Oct 04/99) - Despite a nine-month loss, a Northern expeditor believes the company is poised for a turnaround.

"Commodity markets and the mining industry are showing signs of a resurgence and interest in our services is on the increase," Braden-Burry Expediting said in its third quarter report.

BBE also said the company is well positioned to serve resource-based projects proposed for the NWT.

For the nine months ended July 31, BBE reports an unaudited loss of $30,380 compared to a $53,571 gain over the same three quarters a year earlier.

The profit decline reflects sagging commodity prices, the company said.

For the nine months, revenue fell to $1.58 million from $1.74 million while expenses rose to $890,594 from $731,539.

Assets at July 31 totalled $2.45 million, down from $2.62 million.

For its part ownership of Baker Lake-based Peter's Expediting, BBE netted income of $23,146.

BBE is a Yellowknife-based company whose shares trade on the Alberta Stock Exchange.