Home-building, Christchurch and rural upturn lift Steel and Tube 1H 10 percent

Wed, 19 Feb 2014

Feb. 20 (BusinessDesk) – Steel products manufacturer Steel & Tube lifted earnings 10 percent in the six months to Dec. 31, turning in a tax-paid net profit of $8 million on a 6 percent lift in sales to $211.7 million. However, margins remain tight and despite the Christchurch rebuild, booming residential construction and a strong rural sector, the company warns the steel market remains highly competitive. It held margins during the period, but improved performance came from volume growth. Directors declared a fully imputed interim dividend o...

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