15
Nov
17:57
Friedman sees five-fold profit increase
US tube supplier and coil processor Friedman Industries quintupled its earnings in the quarter ended 30 September, Kallanish reports.
Friedman earned $2 million on sales of $53.43m in the fiscal second quarter, up from $395,334 on sales of $26.07m in fiscal Q2 2017.
Friedman attributes the increase to a general uptick in volume. Coil volumes increased 25% to 7,500 short tons during the quarter, while tubular volumes shot up 200% to 17,000 st.
That volume u…
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Anonymous
Very good overview of the weekly steel market.
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