13
Feb
21:48
US distributor MRC sees profits halved on-year
US pipe, valve and fittings supplier MRC Global saw its profits cut nearly in half on-year in 2019, Kallanish reports.
MRC posted net earnings of $39 million on sales of $3.66 billion in 2019, down from earnings of $74m on sales of $4.17 billion in 2018.
That trend is likely to continue through 2020, notes ceo Andrew Lane.
“Due to continued weakness in market conditions, we expect 2020 activity levels to be lower than 2019,” Lane sa…
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Anonymous
Very good overview of the weekly steel market.
Anonymous