Lockdown halted Steel & Tube's 1Q 29% sales growth

Lockdown halted Steel & Tube's 1Q 29% sales growth
CEO Mark Malpass said lockdown had an immediate impact of Steel & Tube's sales. (Image: Supplied)
Jenny Ruth
Steel & Tube's weekly sales through its first quarter had been tracking at 29% higher than in the previous first quarter until the national lockdown forced its sales down to near zero, chief executive Mark Malpass told the annual shareholders' meeting.The company had been able to supply just 715 customers who qualified as essential businesses by the end of alert level four.The government's exemption for building products in mid-September meant Steel & Tube had Ministry of Business, Innovation and Employment (MBIE) approval f...

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