CanWel posts Q1 profit amidst March slowdown

VANCOUVER — CanWel Building Materials said this week it turned a profit of $850,000 in the first quarter, after posting a $356,000 loss in Q1 of 2019. Revenues increased 15.9 percent to $326.7 million compared to $281.9 million a year ago. Despite a slowdown in operations at the end of March due to the pandemic, sales rose by $44.8 million or 15.9 percent, largely due to the April 2019 acquisition of Lignum Forest Products.