Finning reports decline in Q4 profit to $93M; cites increase in income taxes

VANCOUVER – Finning International Inc. (TSX:FTT) has reported a 10 per cent decline in fourth-quarter net income, with the world’s largest Caterpillar dealer blaming the reversal largely on higher income taxes. Vancouver-based Finning says net income in the three months ended Dec. 31 was $93 million or 54 cents per share, down from $103 million or 60 cents in the same 2012 period. Revenue was $1.796 billion, up from $1.746 billion.

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