Richelieu posts solid sales, earnings in Q2

MONTREAL — Richelieu Hardware’s sales increased 6.8% to $281.2 million in the second quarter. For the first six months of the year, sales were up 4.6% to $507.4 million. Diluted earnings per share rose by 9.7% to $0.34 in the quarter, which saw the company’s fourth acquisition of the fiscal year: Euro Architectural Components, a distributor operating two warehouses in Toronto and Montreal. In Canada, Richelieu recorded sales of $183 million, an increase of $2.3 million or 1.3% over the second quarter of 2018 entirely from acquisition growth. Q2 net earnings grew 6.3%. Considering non-controlling interests, net earnings attributable to shareholders amounted to $19.3 million, up 6.1% over the second quarter of 2018.