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.
For further insights into TSE:RCH stock, check out TipRanks’ Stock Analysis page.
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