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Russel Metals posts 263% steep rise on Q1 profit
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Russel Metals, North America’s leading metals distributor has just posted CAD 33 million profits for its first quarter, which was 263% higher than a year earlier, citing on high steel prices and sales volumes. Reuters reported.
In the first quarter, the company’s total revenue increased by 61% to CAD658 million, of which steel distributor segment takes CAD70 million, which climbed by 40%.
Russel Metals owns about 60 Canadian and US metals service centers and its primary business, which provides carbon steel, stainless steel and aluminum tubular products.
News Date
5/13/2011 10:56:51 AM
reported by
Brian Lu
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