JULY/AUGUST 2019 BCBUSINESS 75
Ledcor Group of Companies
REVENUE CHANGE: –12%
NET INCOME: NP
NET INCOME CHANGE: NA
For the second year in a row, Ledcor
Group lands in the losers' column. In 2017,
the problem was uncertainty surrounding
Kinder Morgan's Trans Mountain pipeline
expansion, which the Vancouver-head-
quartered conglomerate was contracted
to work on. This time, it's a victim of the
real estate crunch and new taxes. Though
primarily a construction business, Ledcor
also has its ƒngers in the forestry, mining
and transportation industries, among oth-
ers. The last one grabbed headlines this
year, when one of its tugboats sank in the
Fraser River with 600 litres of diesel fuel.
Goldcorp
REVENUE CHANGE: –11.6%
NET INCOME: $5.38 billion
NET INCOME CHANGE:
529.1%
The US$10-billion acquisi-
tion of Vancouver-based
Goldcorp by Colorado's
Newmont Mining Corp.,
which closed this April,
grabbed headlines. Equally
eye-popping was Goldcorp
losing close to US$4 billion
last year due to non-cash
impairment—which it said
represents the di'erence
between the book value
of its shareholders' equity
and the Newmont o'er.
Revenue fell by about
US$400 million.
SSR Mining
REVENUE CHANGE: –6.5%
NET INCOME: –$40.17 million
NET INCOME CHANGE: NA
Vancouver-based SSR enjoyed a decent
year when it came to stock price, but
overall revenue dipped in ƒscal 2018,
mostly because the miner produced more
gold than it sold in an uncertain market.
Another setback: lower production at the
Chinchillas Mine in Argentina, a silver,
lead and zinc operation where the com-
pany has a 75-percent stake. In particular,
silver mining plunged to almost half its
2017 output.
c=converted from USD at 1.2957 (2018) and 1.2986 (2017) Revenue is by fiscal year
QUITE THE SPILL
The George H. Ledcor sank
in the Fraser River carrying
600 litres of diesel fuel
CHRIS MEDLAND
RANK COMPANY REVENUE 2018 ($000) REVENUE 2017 ($000) % CHANGE
1 Maxar Technologies 1,102,641 c 2,118,276 c –47.9
2 Polygon Family of Companies 777,000 1,385,000 –43.9
3 BC Housing Management Commission 782,092 1,342,874 –41.8
4 WorkSafeBC 1,995,000 3,295,615 –39.5
5 Ledcor Group of Companies 2,200,000 2,500,000 –12
6 Goldcorp 3,928,562 c 4,445,108 c –11.6
7 Teekay Corp. 2,212,742 c 2,441,799 c –9.4
8 SSR Mining Inc. 545,069 c 582,777 c –6.5
9 Wheaton Precious Metals Corp. 1,028,801 c 1,094,999 c –6
10 Pan American Silver Corp. 1,016,470 c 1,060,733 c –4.2
BIGGEST REVENUE LOSERS BY PERCENTAGE
