CanWel profits fall as revenues rise

VANCOUVER ― CanWel Building Materials said its Q3 revenues increased by 6.6% to $373.2 million, compared to $350.2 million in the same period in 2018. Net earnings declined to $6.4 million from $8.5 million in Q3 of 2018. Sales for the distribution segment rose by $24.5 million or 7.3%, largely due to the inclusion of the results from the Lignum acquisition in 2019 and the company’s 2018 acquisitions.