Beacon Roofing Supply, Inc., Peabody, MA, reported sales increased 70.6% to a record $339.9 million in the first quarter of fiscal year 2006 from $199.2 million in the same period in 2005. The company had organic growth of 14.3%, with strong sales in residential roofing, non-residential roofing and complementary building products.
Acquisitions made up the rest of the sales increase. Beacon, with $850 million in revenues last year, bought Shelter Distribution in mid-October 2005, JGA Corp. in mid-December 2004, and at least three other companies in the past year. The company also opened eight new branches since Dec. 31, 2004.
The company reported first-quarter profit of $12.9 million in 2006 compared to $8.7 million in 2005, an increase of 47.6%.
‘We are working on the integration of our recent acquisitions while we continue to look for further opportunistic acquisitions, such as the ones we completed last month that allowed us to penetrate additional new high-growth markets,’ said Robert Buck, president and CEO.Beacon Roofing Supply is a distributor of roofing materials and complementary building products operating 145 branches in 30 states and Eastern Canada.