CanWel Revenue Increases

CanWel Building Materials Group Ltd. Had revenues of $402 million for the fourth quarter of 2020, a 37 per cent increase over revenues of $293.4 million in the fourth quarter of 2019. The increase is largely due to strong home improvement activity and housing starts. Gross margin dollars increased by 51.6 per cent to $67 million, compared to $44.2 million during the corresponding period in 2019. Gross margin percentage increased to 16.7 per cent of revenues versus 15.1 per cent. This increase in margin dollars and margin percentage is mainly attributable to the previously mentioned improvements in construction materials pricing.