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Beacon Roofing Supply Sales Up 8.4% in 2008

Beacon Roofing Supply, Inc., Peabody, MA, reported sales for the fiscal 2008 ended Sept. 30 were up 8.4% to $1.78 billion, thanks to acquisitions and an increase of 1.3% in organic sales.
 
According to Beacon, roofing product sales benefited from an unusually large rise in prices during the fourth quarter," mostly from the pass-through of manufacturer price increases in residential shingles, as well as from strong re-roofing activity in storm-affected regions and continued strength in commercial roofing activity in most markets. Complementary product sales continued to be negatively impacted by both the slowdown in the economy and lower levels of new residential construction.
 
The distributor's 2008 profit was $40.3 million compared to $25.3 million in 2007. ...

Beacon Roofing Supply, Inc., Peabody, MA, reported sales for the fiscal 2008 ended Sept. 30 were up 8.4% to $1.78 billion, thanks to acquisitions and an increase of 1.3% in organic sales.
 
According to Beacon, roofing product sales benefited from an unusually large rise in prices during the fourth quarter,” mostly from the pass-through of manufacturer price increases in residential shingles, as well as from strong re-roofing activity in storm-affected regions and continued strength in commercial roofing activity in most markets. Complementary product sales continued to be negatively impacted by both the slowdown in the economy and lower levels of new residential construction.
 
The distributor’s 2008 profit was $40.3 million compared to $25.3 million in 2007.
 
Sales in Beacon’s fourth quarter increased 14.9% to $567.2 million in 2008 from $493.8 million in the fourth quarter of 2007. Residential and non-residential roofing sales increased 36.8% and 6.6%, respectively, while complementary product sales declined 11.8%. The company’s profit for the fourth quarter was $24.9 million compared with $11.3 million in 2007, an increase of 120%.
 
Beacon Roofing Supply, Inc. is a distributor of roofing materials and complementary building products operating 175 branches in 35 states in the U.S. and Eastern Canada.  

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