Distribution Drives CanWel Revenues

CanWel Building Materials Group Ltd. had consolidated revenues of $412.9 million for the second quarter of 2020, an increase of 7.1 per cent over consolidated revenues of $385.7 million in the second quarter of 2019. The increase was mainly driven by sales in the distribution segment, which increased 8.4 per cent year-over-year. Gross margin dollars increased 8.3 per cent to $58.9 million, compared to $54.4 million during the corresponding period in 2019. Gross margin percentage increased to 14.3 per cent of revenues versus 14.1 per cent last year. The company says the increase in margin dollars and margin percentage is mainly attributable to the improvements in sales and construction materials pricing during the second quarter of 2020. EBITDA increased 20.1 per cent to $32.8 million compared to $27.3 million in the year-ago period.