Richelieu Hardware (TSE:RCH) has released an update.
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Richelieu Hardware reported a modest sales increase of 1.0% in Q1 2024, with a total revenue of $406.9 million and continued its expansion through three acquisitions expected to contribute $60 million in annual sales. The company maintained a strong financial position with a substantial working capital and announced a quarterly dividend of $0.15 per share. Despite facing margin pressures due to selling inventory purchased at higher costs, Richelieu is optimistic about the contributions from its recent acquisitions and market initiatives.
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