Rocky Mountain Sets Sales Record

Rocky Mountain Dealerships Inc. earlier this month released financial results for the three and six months ended June 30.

The dealership also announced its definitive agreement to acquire the New Holland dealership in Olds, Alberta.

President and CEO Garrett Ganden said the company set a record for second quarter new equipment sales and achieved year-over-year sales growth across all categories.

Total sales at Rocky Mountain increased 27.8 percent compared to the same period in 2017 due to a record-
setting second quarter for new equipment sales, which increased 46.1 percent year-over-year. Used equipment and parts contributed increases of 18.1 percent and 4.4 percent, respectively.

Gross profit increased by 7.3 percent compared to the same period in 2017. This was the result of increased sales and OEM incentives offset by sales mix, pricing pressure and valuation adjustments.

Since the quarter ended, the business closed its acquisition of John Bob Farm Equipment, a Saskatchewan-based dealer of New Holland equipment, and it agreed to acquire the business assets of the New Holland dealer based in Olds, Alberta.