Richelieu reports Q3 profit and revenue growth
Richelieu Hardware posted C$29.2 million profit (53 Canadian cents/share) and revenue of C$562 million for the third quarter.
By Katherine Hamilton Richelieu Hardware logged higher profit and sales in the third quarter, boosted by sales to a major customer in its retailer segment. 2 million, or 53 Canadian cents a share. Profit increased 22% and included 4 cents a share from tariff refunds. Revenue rose 13% to C$562 million.
S. S. dollars. , which helped boost the retail and home-improvement superstore market.
Sales to retailers and home-improvement superstores jumped 21%, while sales to manufacturers increased 12%. Richelieu completed two acquisitions during the third quarter, and bought Penrod Hardware Division on Sept. 1. Penrod was the company's biggest acquisition to date and is expected to contribute US$70 million in annual sales.
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