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Despite Revenue Decline, Adentra Inc (TSX:ADEN) Reports 83% Rise in Net Profit in Q2 2024
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Highlights
ADENTRA Inc. (TSX: ADEN) distributes architectural products to professional dealers, home centers, and fabricators. It has a market cap of CAD 992.24mn.
In Q2 2024, the company’s revenue was USD 549.4 million, a decrease of 6.2% compared to USD 585.9 million in the prior corresponding period (pcp). This drop was mainly due to lower product prices, which contributed to a 5% decline, while sales volume also fell by 1%. Despite the decrease in revenue, the company managed to keep its gross profit stable at USD 119.2 million, only slightly down from USD 119.4 million the previous year. This was helped by a broader range of higher-margin products.
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