CanWel posts Q4, annual gains

VANCOUVER — CanWel Building Materials Group reported that revenues for the past fiscal year rose by 18.6%, totalling $978 million. A $113 million (or 13.7%) hike in building materials sales contributed to the boost, largely driven by acquisitions. Gross margin for the year increased by 25.5% to $123.4 million, compared to $98.3 million during the corresponding period in 2015. Net earnings rose to $49.9 million, largely due to one-time acquisition costs and a gain on bargain purchasing. Q4 revenues increased by 18.6% to $978 million.