Steel & Tube 1H ebit could rise as much as 31%

Thu, 17 Dec 2020

Steel & Tube Holdings expects its first-half normalised operating earnings could come in up to 31 percent stronger than last year.The steel products distributor said trading in the first five months of its 2021 financial year has been "solid" with revenue tracking close to the previous first half and earnings before interest and tax ahead, "reflecting cost reduction initiatives and gains from sub-leasing property."The company expects to report normalised ebit — after taking into account the new accounting standard...

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