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MBI Business Brief – May 13, 2022

Jennefer Nepinak. Photo provided by Legacy Bowes/University of Winnipeg.

Legacy Bowes welcomes new vice-president

Winnipeg-based HR firm Legacy Bowes has announced that Jennefer Nepinak will join the company as Vice-President, Strategic Partnerships and Reconciliation on July 1, 2022.

Nepinak, member of the Minegozhiibe Anishinabe (Pine Creek First Nation), comes to Legacy Bowes from the University of Winnipeg where she works as Associate Vice-President, Indigenous Engagement. She has also held roles at Canadian Museum for Human Rights, the Treaty Relations Commission of Manitoba and within governments including the Government of Canada, the Government of Manitoba and First Nations Governments.

“I am very excited to join the Legacy Bowes team. I admire the business approach that works to encourage Indigenous perspectives application in all that it does,” Nepinak said. “As we work towards the implementation of Call to Action #92 for all of Canada, we must all work together to seek a meaningful and respectful process that moves beyond words. Together, with the Legacy Bowes Team and with you, I look forward to achieving new benchmarks on the Truth and Reconciliation dialogue.”

CAA Manitoba has new brand

CAA Manitoba has announced its new brand platform and tagline on May 9. The tagline, Driven by Good, and the accompanying platform was created with BIMM, a Toronto-based creative agency.

“This new marketing approach will help CAA Members create a deeper, more emotional connection to our brand,” said Rhonda English, chief marketing officer for CAA Club Group of Companies. “For more than 115 years, we have been helping people through advocacy and roadside assistance and for decades with travel and insurance. CAA has been approaching business in a positive and impactful way since its inception and it is time to align our marketing and communications accordingly.”

Wellington-Altus Private Wealth Management one of 2022 Canada’s Best Managed Companies

Wellington-Altus Private Wealth Management has made the Deloitte Canada’s Best Managed Companies list in 2022, retaining its status for another year.

“The 2022 Best Managed winners have demonstrated an exceptional ability to identify lucrative opportunities and successfully adapt to new situations, leveraging industry-leading competencies to maximize their investments and drive sustainable growth,” said Lorrie King, national co-leader of the Canada’s Best Managed Companies program and Partner, Deloitte Private. “Over the past year, these companies displayed a forging-forward mentality that enabled them to weather challenges and explore new avenues for advancement. They exemplify the resilience and innovative business practices that are necessary as the Canadian and global business environments continue to change rapidly.”

Ceres Global Ag Corp releases Q3 results

On May 11, Ceres Global Ag Corp. released its Q3 results, with gross profit increasing by 109 per cent to $12.3 million USD, with income from operations at $3.6 million and net income hitting $912,000.

The company’s Northgate, Sask. canola facility is on track, with further design and engineering work and remains on schedule. Ceres also noted the appointment of Holly Dammer as vice president, human resources, the resignation of current vice president and CFO Jay Bierley, and the appointment of new vice president and CFO Blake Amundson.

“Q3 was another outstanding quarter, adding to our record financial performance for the year,” said Robert Day, president and CEO at Ceres. “Once again, our team successfully navigated through volatile markets, this time influenced by geo-political events that were difficult to anticipate. During the quarter we continued to make meaningful progress on our growth strategy as we secured the right to purchase 50% ownership of Berthold Farmers Elevator, LLC and we advanced on two key projects: expansion of the grain elevator in the Farmers Grain, LLC joint venture in Thief River Falls, to be completed in July 2022, and the canola crush project at Northgate.”

Pollard Banknote releases Q1 2022 results

Pollard Banknote announced its Q1 2022 results on May 11, reporting sales increased by 1.5 per cent to $113.9 million, as compared to Q1 2021. Combined sales in Q1, including Pollard’s share of its NeoPollard Interactive LLC (“NPi”) joint venture’s sales, reached $125.2 million – up 2.5 per cent from the $122.1 million achieved in 2021.

Income from operations decreases to $9.3 million from $12.3 million in Q1 2021. The company noted that the decrease was due to $1.9 million in Canada Emergency Wage Subsidy (“CEWS”), recorded as other income, which it did not receive in 2022, and its U.S. iLottery’s “double jackpot” run in 2021 boosted 2021 income, which was reduced in 2022 by $2.1 million. Adjusted EBITDA for Q1 2022 of $19.0 million decreased from $23.3 million in Q1 2021.

“Given the challenging business conditions we are pleased with our financial results achieved in the first quarter of 2022 and the foundation laid for continuing improvement going forward in 2022,” said John Pollard, Co-CEO at Pollard. “There is significant demand for all of our major products and these trends are expected to continue.”

“Demand for our main products and services remained very strong throughout the quarter,” said Doug Pollard, Co-CEO. “Lotteries continue to place strong order volumes, well above pre-pandemic levels. Our charitable gaming and eGaming systems businesses are experiencing high levels of demand and very strong revenue in the first quarter, including sales of pull-tabs, bingo paper and electronics, particularly with our tablet-based solutions.”

Next week: Delta 9 reports Q1 earnings on May 16.

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