Steel & Tube says revenue bounces back in start of FY23

Fri, 30 Sep 2022

Steel & Tube Holdings said revenue is up 15% on largely flat volumes in the first six weeks of its financial year, helped by steady trading across its sectors.The steel products distributor provided a trading update to the market ahead of its annual meeting in Auckland this morning.Trading through July and August was steady across most sectors with earnings supported by operational and trading disciplines, it said in a statement.While the prior year was impacted by the nationwide lockdown, in the 34 days to Aug 17 revenue was 15% higher tha...

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