CanWel posts Q2 gains

VANCOUVER — CanWel Building Materials saw Q2 revenues increase by 29% to $290 million when compared to $225 million in the same period in 2015. The increase in revenues was mainly attributable to the additional revenue resulting from the impact of the acquisition of California Cascade Industries and Jemi Fibre Corp. Net earnings increased 64% to $9.8 million, before non-recurring items. During the quarter, gross margin increased by 47.8% to $39.6 million, compared to $26.8 million during the corresponding period in 2015. Gross margin percentage also increased to 13.7% of revenues versus 11.9% during the same period in 2015.