Canada's leading cabinet hardware supplier reports strong first quarter - Brief Article

Home Channel News, April 16, 2001

Montreal-based Richelieu Hardware enjoyed a 17 percent increase in sales to $46.9 million Canadian (US$30 million), for the three months ended Feb. 28, its 22nd consecutive quarter of sales growth. Richelieu's quarterly net income increased 18 percent to C$2.2 million. On March 16, the company's stock was included in the Toronto Stock Exchange's TSE300 composite index.

Richard Lord, its president and CEO, anticipated continued strong results through the remainder of this year. "We also foresee strong growth from hardware retailers and hardware superstores, and we are ideally positioned to keep up with the expansion of this major market. Demand for our products is growing in all of our markets," Lord stated.