Vancouver, BC-based Tree Island Steel Ltd. reported revenues increased 10.8% to $68.1 million in the second quarter of 2018. Gross profit grew 44% to $8.5 million, while EBITDA more than doubled to $5.4 million. 

“Despite the challenging business environment, we were able to realize a higher gross profit than in the prior year by maintaining price discipline to pass on the rising inflationary raw material costs, by proactively managing our costs and impacts of the tariffs, and by improving product mix to deliver higher profitability,” stated CEO Dale R. MacLean.

During the first six months of 2018, revenues improved 8.1% to $134.6 million, with gross profit up 13% to $15.2 million and gross margin rising to 11.3%.

“With regards to the recent US tariffs on certain steel rod and wire, the imposition of these tariffs are being charged through to the end customers,” the company added. Web: TreeIsland.com