VANCOUVER — CanWel Building Materials reported Q4 profits of $7.1 million, up from $3.7 million in the same period of 2016. Revenues surged by 28.9 % to a record $276.2 million, while gross margin rose to 15.6%, compared to 12.3% a year ago. The company attributed this gain primarily to the effect of its Honsador acquisition, along with higher prices on building materials. For the full fiscal 2017, CanWel reported that revenues increased by 16.1% to $1.14 billion, compared to $978.3 million in 2016. Net earnings rose by 45% to $31.6 million, excluding non-recurring costs.
CanWel Q4, year-end profits soar
Most Recent
Most Read
RONA adds six new affiliate dealers
Fri, April 26th, 2024
King Marketing gathers national team, celebrates achievements of its reps
Fri, April 26th, 2024
Aaron Jarosz promoted to lead Home Depot Canada's pro services
Thu, April 25th, 2024
New owners for Canadian Tire store in Innisfil, Ont.
Thu, April 25th, 2024
United Hardware merges with Do it Best
Thu, April 25th, 2024
Throwback Thursday: Ten years ago, Home Depot Canada started using stores as online showrooms
Thu, April 25th, 2024
CEO shares plans for Home Hardware’s 60th anniversary
Wed, April 24th, 2024
West Fraser posts Q1 financials
Wed, April 24th, 2024
IKEA introduces online financial options
Wed, April 24th, 2024
Retail sales stable in February
Wed, April 24th, 2024