Business
Richelieu records an excellent performance and closes five business acquisitions in 2006 - Increase of 17% in dividend rate
Richelieu records an excellent performance and closes five business acquisitions in 2006 - Increase of 17% in dividend rate.
About this update from Richelieu Hardware Ltd
[{"type":"text","content":"\n\n\n\n-------------------------------------------------------------------------\n- Earnings per share rise 15.0% to $1.38 and total sales grow by 10.1% to\n $385.6 million.\n- U.S. sales account for about 13% of total sales. They increase by 28.2%\n (U.S. dollars) - 12.8% from internal growth and 15.4% from\n acquisitions.\n- Richelieu closes five business acquisitions - two in Canada and three\n in the U.S. - that strengthen its position in its Canadian regional\n markets and open up new markets in the U.S.\n- Sales on Richelieu's transactional website increase tenfold.\n- The Company closes 2006 with an excellent financial position, that will\n favour its expansion and growth.\n- The dividend is raised by $0.06 to $0.07 per share.\n-------------------------------------------------------------------------\n\nTSX: RCH\n\nMONTREAL, Jan. 26 /CNW Telbec/ - In 2006, Richelieu posted one of its best\nperformances ever as well as a record expansion by acquiring five businesses\nin its field in North America. Richelieu raised its sales and earnings for an\neleventh consecutive year, and the three months ended November 30, 2006\nrepresent the 45th quarter of sales growth over the corresponding quarter the\nprevious year. Consolidated sales grew to $385.6 million for 2006, an increase\nof 10.1% over 2005, of which 4.3% came from internal growth and 5.8% from\nacquisitions. Distribution operations generated sales of $368.8 million,\nwhereas manufacturing sales amounted to $16.9 million. Richelieu recorded\nsales of $336.3 million in its Canadian markets, up 8.7% over 2005. Sales in\nthe United States, which came primarily from its distribution operations in\n2006, increased by 20.6% (28.2% in US$) to $49.4 million (US$43.5 million),\nrepresenting 12.8% of 2006 total sales.\nEarnings before income taxes, interest, amortization and non-controlling\ninterest (EBITDA) totalled $53.1 million, up 15.9% over 2005. The EBITDA\nprofit margin improved to 13.8% from 13.1% in 2005. EBITDA from distribution\noperations jumped by 22.3% to $49.8 million, whereas EBITDA from manufacturing\noperations decline by $1.8 million to $3.3 million. Net earnings reached $31.9\nmillion, an increase of 15.3% over the previous year. Earnings per share rose\n15.0% to $1.38 ($1.37 diluted), whereas the number of shares declined during\nthe year.\n\nFive business acq...