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Hardlines distributor credits alliance with buying group and dealer loyalty for increased earnings
ST. BRUNO, QUEBEC - Sodisco-- Howden Group, the hardlines distributor selling to more than 1,500 dealers across Canada, reported significant increases in revenue and net income for the year ended Dec. 31, 1999.
The company stated that sales rose 16.5 percent to 423.5 million Canadian dollars (roughly US$275 million, using the conversion rate for the end of last year). The revenue figure was the highest for the distributor since the early 1990s.
Sodisco's earnings grew almost threefold to C$10.9 million.
The wholesaler benefited from an alliance it entered into with Independent Lumber Dealers Co-operative, one of Canada's largest buying groups. The result was a fifty-fifty partnership in Spancam, a buying organization through which Sodisco and ILDC are channeling business to around 50 preferred vendors. Tony...