Doman Building Materials releases year-end results

Doman Building Materials Group Ltd., the owner of CanWel, yesterday announced its fourth quarter and full year 2023 financial results. Consolidated revenues for the year were $2.5 billion, compared to $3.0 billion in 2022. Gross margin for the year was at 16.2 percent and net earnings amounted to $75.8 million. “The decrease was largely due to the impact of lower construction materials pricing, which resulted in lower average pricing for lumber, plywood, and OSB,” the Vancouver-based company said in a release. For the final quarter, revenues were $527.4 million, gross margin was 15.3 percent, and net earnings were $10.5 million.