Steel & Tube annual operating profit to be up more than 69%

Steel & Tube annual operating profit to be up more than 69%
Chief executive Mark Malpass said structural changes are well embedded. (Image: Steel & Tube)
Jenny Ruth
Steel & Tube said its strong first-half performance continued into the current six months and it's now expecting normalised operating profit for the full year to be up more than 69%.The steel products distributor expects earnings before interest, tax, depreciation and amortisation (ebitda) to be not less than $64 million, up from $37.9m the previous year, and that ebit will be not less than $45m, up from $19m.Revenue for the 10 months ended April was up 24.6% at $479.2m from the same months a year earlier, ebitda up 81.6% at $53.6m and...

More Infrastructure

Toll Tales: a cross-country journey through toll road controversies
Infrastructure

Toll Tales: a cross-country journey through toll road controversies

NZ is looking to Australia on toll roads, but Australia is having second thoughts.

The rise of solar power needs financing
Infrastructure

The rise of solar power needs financing

More household solar would drive electrification.

Christchurch buses sitting on $17m central city site
Infrastructure

Christchurch buses sitting on $17m central city site

CCHL has considered a range of options for the 2.7 hectare city site.

Oliver Lewis 18 Mar 2024
'Scope, scope': The mantra behind Auckland Transport's $23m bet
Infrastructure

Dileepa Fonseka: 'Scope, scope': The mantra behind Auckland Transport's $23m bet

Sometimes the key to blowouts is simple: order less, pay the right price and move fast.

Dileepa Fonseka 18 Mar 2024