09
Nov
19:30
Russel doubles earnings in third quarter
Toronto-based service centre chain Russel Metals more than doubled its third-quarter profits when compared with last year, Kallanish reports.
Russel reported Q3 earnings of CAD 34 million ($26.78m) on sales of CAD 851m, up from Q3 2016 earnings of CAD 16m on sales of CAD 639m.
The company attributes the gain to improvements in both volume and average pricing, which increased 10% and 7%, respectively. Gross margin also improved on year, moving from 19.5% to 22…
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