11:56 AM EDT, 07/11/2024 (MT Newswires) -- Richelieu Hardware ( RHUHF ) shares were last seen up 5% after the company on Thursday reported its fiscal second-quarter profit fell by almost a fourth even as sales rose slightly.

The company reported its profit in the quarter ended May 31 fell 24% to $23.4 million, or $0.42 per share, from $30.7 million, or $0.55, in the year-prior quarter.

Sales rose 2% to $481.4 million from $472.1 million a year earlier. The company said the increase was due to a 2.7% contribution from acquisitions, offset by a 0.7% internal decrease. Much of the rise came from Richelieu's U.S. operations, where sales in the manufacturers' market there rose by 8.7%, while gaining just 0.9% in Canada.

The board declared a quarterly dividend of 0.15$ per share, payable on August 8.

The company's shares were last seen up $1.93 to $40.57 on the Toronto Stock Exchange.

Price: 40.57, Change: +1.93, Percent Change: +4.99