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Adentra (TSX: ADEN) Expects Sales Growth to Continue in H2FY24 as Q3 Revenue Rises 1.8%
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Highlights
ADENTRA Inc. (TSX: ADEN), listed on the Toronto Stock Exchange, is a renowned distributor of architectural building products. It operates with multiple flagship brands across North America. Adentra has a market cap of CAD 949.21mn.
In Q3 2024, the company reported a 1.8% increase in revenue, reaching USD 568.8 million compared to USD 558.6 million in Q3 2023 (pcp). This growth was partially driven by the two-month contribution of revenue from the recent acquisition of Woolf. Additionally, the company saw a 2.5% rise in gross profit to USD 121.3 million from USD 118.3 million in pcp. This was attributed to the expansion and diversification of the product mix, with a focus on higher-margin and value-added offerings.
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