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

Jenny Ruth
Mon, 16 May 2022

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
Mon, 16 May 2022
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...

Not convinced yet?

Subscribe to our Daily News Update free newsletter.

Markets market close
NZ sharemarket rebounds with Wall Street rally
Dan Brunskill | Mon, 27 Jun 2022

US markets rallied on Friday night as traders began thinking an economic slowdown would stop the US Federal Reserve from hiking interest rates.

Political donations over $5k to require declaration
Staff reporters | Mon, 27 Jun 2022

The changes require disclosure of donor identities for any party donations over $5,000 versus the current $15,000. 

Law & Regulation
Public class action fund needed: Law Com
Victoria Young | Mon, 27 Jun 2022

The Law Commission has finalised its report into class actions and litigation funding.

Investments to sustain the momentum of building in NZ

Classic Capital has opened its Land & Build fund to qualified wholesale and eligible investors.

High water marks: Watercare raises the tide on sustainability

The No.1 barrier to decarbonisation for NZ organisations is accurate measurement, says Microsoft’s Accelerating the Journey to Net Zero report.