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

Govt to toll three new highways
Policy

Govt to toll three new highways

The Transport Minister has unveiled reforms to support more toll roads.

Oliver Lewis 13 Dec 2024
From light rail to ‘property management’
Infrastructure

From light rail to ‘property management’

Auckland Light Rail avoided a rebrand, but it isn't long for this world.

Oliver Lewis 13 Dec 2024
Protest vote against Tony Gibson
Infrastructure

Protest vote against Tony Gibson

The former Port of Auckland boss was reappointed to Marsden Maritime Holdings.

Oliver Lewis 13 Dec 2024
Tonkin and Taylor announce Vanessa Stoddart as chair
Infrastructure

Tonkin and Taylor announce Vanessa Stoddart as chair

Stoddard is a director of the Channel Infrastructure board.

Staff reporters 12 Dec 2024