31
Oct
20:46
MRC credits cost-cutting to steady profits
US pipe, valve, and fittings distributor MRC Global held profits and sales essentially level on-year despite a slipping oil and gas environment, Kallanish reports.
MRC earned $15 million on sales of $942m in Q3, down from $18m on sales of $1.07 billion in Q3 2018.
"We are pleased to see progress from our strategy to increase margins, as we achieved 20% adjusted gross profit this quarter.,” says ceo Andrew Lane. “Revenue in the third quarter, …
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Very good overview of the weekly steel market.
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