CanWel Has Strong First Quarter

CanWel Building Materials Group Ltd. had consolidated revenues of $519.9 million for the first quarter of 2021, an increase of 59.1 per cent compared to revenues in the first quarter of 2020. The increase in sales is attributable to improvements in both sales volumes and pricing. Gross margin dollars more than doubled to $90.4 million compared to $43.5 million in 2020 while gross margin percentage was 17.4 per cent of revenues versus 13.3 per cent in 2020. Earnings before taxes were $60.1 million.