CanWel earnings lift on Jemi acquisition

VANCOUVER ― Building materials wholesaler CanWel Building Materials Group Ltd. announce third-quarter results, including an 11% increase in revenues to $276 million. The increase was mainly attributable to the additional revenue from the acquisition of Jemi Fibre Corp. The company also attributed continuing focus on its product mix and improved wood product pricing to the increase. Net earnings for the quarter increased to $7.3 million, up from $6.6 million. For the nine-month period, net earnings climbed from $11.5 million to $49.5 million, an increase of 416%.