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Doman Group (TSX: DBM) remains bullish about future outlook amid WFH trends, aging housing supply
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Image source: Gsign76 | Shutterstock
Highlights
Doman Building Materials Group Ltd (TSX: DBM), based in Vancouver, Canada is a wholesale distributor of home renovation products and building materials. The company operates seven different divisions in the U.S. and Canada. It mainly serves home renovation, new home construction, and industrial markets. It also provides its building products to dealers/lumberyards and home improvement centers.
Doman Group is regularly carrying out its strategy to improve the share of value-added items in its overall sales, such as pressure-treated wood. The company foresees sustained demand for its products in the long run, driven by robust fundamentals in its target markets. Management highlights that a substantial portion of the company's sales depends on both new construction initiations and ongoing activity in repair and remodelling markets. Additionally, a notable boost for the company comes from the recent uptick in expenditure on upgrades and repairs in the US, which rose by 2.2% year on year in Q4 2023.
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