Business
Richelieu pursues its growth and expansion in 2007
Twelfth consecutive year of sales and net earnings growth ---------------------------------------...
About this update from Richelieu Hardware Ltd
[{"type":"text","content":"\n\n\n\n Twelfth consecutive year of sales and net earnings growth\n\n-------------------------------------------------------------------------\n- For the year ended November 30, 2007, consolidated sales exceeded\n $400 million to reach $436.2 million, up 13.1% over 2006.\n- U.S. sales increased by 72.5% (U.S. dollars) - 15.2% from internal\n growth and 57.3% from acquisitions - and accounted for some 19% of\n total sales.\n- Earnings per share amounted to $1.47, up 6.5%.\n- Two business acquisitions closed in Canada and the United States and\n opening of a 30th distribution centre in Canada - Richelieu's network\n now includes 45 centres in North America, plus two manufacturing\n plants.\n- In the fourth quarter, consolidated sales increased by 9.1% and net\n earnings by 11.5%.\n- The Company ended the year with an excellent financial position,\n enabling it to easily pursue its growth and expansion.\n- A 14% increase in quarterly dividend to 0.08 per common share\n-------------------------------------------------------------------------\n\n\nTSX: RCH\n\n\nMONTREAL, Jan. 31 /CNW Telbec/ - Richelieu Hardware Ltd. is a leading\nnorth american importer, distributor and manufacturer of specialty hardware\nand complementary products. The Company will celebrate its 40th anniversary in\n2008. Management today announces financial results for the year ended November\n30, 2007. Richelieu's sales and net earnings increased for a twelfth\nconsecutive year, and the three months ended November 30, 2007 represented the\n49th quarter of sales growth over the corresponding quarter of the previous\nyear.\n\n\nConsolidated sales topped $400 million to reach $436.2 million, an\nincrease of 13.1% over 2006, of which 5.1% came from internal growth and 8.0%\nfrom acquisitions. In Canada, sales grew by 5.6% to $355.0 million. Sales in\nthe United States rose 64.4% (72.5% in U.S. dollars) to $81.1 million\n(US$75.1 million), thereby accounting for 18.6% of 2007 total sales.\n\n\nEarnings before income taxes, interest, amortization and non-controlling\ninterest (EBITDA) totalled $57.1 million, an increase of 7.6%. The EBITDA\nmargin worked out to 13.1%. Net earnings amounted to $34.0 million, up 6.3%.\nEarnings per share grew by 6.5% to $1.47 ($1.46 diluted), whereas the number\nof shares did not vary significantly during the year.\n\n\n"2007 was a...