Organic growth down 10.2%.
Uni-Select Inc. (TSE:UNS) today reported consolidated sales of $370.1 million for its first quarter ended March 31, down by 9.2% compared to the same quarter in 2020. According to the company sales were mainly impacted by the COVID-19 pandemic. The Corporation is reporting negative consolidated organic growth of 10.2%, predominantly from a slower recovery in the U.S. paint business affecting the FinishMaster U.S. segment and, to a lesser extent, The Parts Alliance U.K. segment.
Furthermore, consolidated sales were adversely affected by less billing days in all segments representing 2.2%. These unfavorable variances were partially compensated by