CanWel posts Q4, year-end results

VANCOUVER ― CanWel Building Materials says its Q4 revenues increased 11.1 percent to $293.4 million, compared to $264 million in the same period in 2018. Net earnings rose to $3.4 million in 2019, from $370,000 in 2018. For the full year, revenues increased by 3.3 percent to a record $1.33 billion, compared to $1.29 billion the previous year. Net income fell to $17.2 million from $30 million in fiscal 2018. Sales for the distribution segment increased by $45 million or 3.6 percent, largely due to the inclusion of the results from Lignum Forest Products, which CanWel acquired last spring.