Business
Richelieu's sales increase by 17.2% and exceed $500 million for 2011
MONTREAL, Jan. 26, 2012 /CNW Telbec/ - "2011 was a very good year for Richelieu, which ...
About this update from Richelieu Hardware Ltd
[{"type":"text","content":"\n\n\n\n\n\n\n\n\nSolid fourth-quarter financial performance \n\n\nFourth-quarter consolidated sales increased by 14.8% and diluted earnings per share rose to $0.53, up by 10.4%.\n\n\nFor 2011, consolidated sales grew by 17.2% to $523.8 million, EBITDA rose 5.5% to  $67.3 million and diluted earnings per share amounted to $1.86, an increase of 2.8 %.\n\n\nSales in the United States increased by 52.9% (in US$), of which 12.8% from internal growth.\n\n\nExcellent financial position with a positive net cash balance of $23.6 million and a working capital of $167.3 million as at November 30, 2011 - after an $18.6 million\n investment in acquisitions, the payment of $9.3 million in dividends to\n shareholders, and the repurchase of common shares for cancellation for\n $10.5 million.\n\n\nIncrease of 9.1% in the quarterly dividend which increased from $0.11 to $0.12 - a dividend of $0.12 per share has been declared and will be payable on February\n 23, 2012 to shareholders of record as at February 09, 2012.\n\n\n\nTSX: RCH\n\n\nMONTREAL, Jan. 26, 2012 /CNW Telbec/ - \"2011 was a very good year for\n Richelieu, which distinguished itself with appreciable market share\n gains in North America despite the difficult economic climate, in\n addition to taking advantage of our 2010 and 2011 acquisitions. In\n particular in the United States affected by the persistent economic\n slowdown, we posted excellent internal growth and strong\n growth-by-acquisition, and thereby reached US$100 million in sales.\n Overall, this performance was achieved thanks to our customer service\n and quality execution oriented culture, the effectiveness of our\n business model, the dynamism and expertise of our sales force, the\n selling synergies with acquired companies, and our ability to market\n innovations that anticipate customers' needs and build upon our\n unequalled diversity of products,\" indicated Richard Lord, President\n and Chief Executive Officer of Richelieu.\n\n\nANALYSIS OF OPERATING RESULTS FOR THE YEAR ENDED NOVEMBER 30, 2011,\n COMPARED WITH THE YEAR ENDED NOVEMBER 30, 2010\n\n\nConsolidated sales\n\n\nRichelieu achieved consolidated sales of $523.8 million, an increase of $76.8 million or 17.2% over 2010, of\n which 1.2% from internal growth and 16.0% from the acquisitions...