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

Opening day congestion for untolled Penlink highway – NZTA
Infrastructure

Opening day congestion for untolled Penlink highway – NZTA

The road should be redesigned if the Government chooses not to toll, agency said.

Oliver Lewis 26 Jul 2024
Downtown car park building legal challenge 'resolved'
Infrastructure

Downtown car park building legal challenge 'resolved'

Society challenging the sale to Precinct raised 0.4% of its High Court funding target.

Oliver Lewis 25 Jul 2024
Govt to fight receivers over $30m Tui oil field tax credit
Infrastructure

Govt to fight receivers over $30m Tui oil field tax credit

Crown bid to have liquidators cover decommissioning costs is subject to approval.

Victoria Young 24 Jul 2024
Govt agrees 'in principle' to $10b worth of Northland roading PPPs
Infrastructure

Govt agrees 'in principle' to $10b worth of Northland roading PPPs

The Northland expressway project could be one of the first PPPs out of the gate.

Dileepa Fonseka 23 Jul 2024