Steel & Tube beats guidance, lifts dividend nearly five-fold

Chief executive Mark Malpass said all staff are now fully vaccinated. (Image: supplied)

Wed, 23 Feb 2022

Steel & Tube's actual first-half results breezed past guidance with record net profit more than four times the previous first half.The steel products distributor said net profit for the six months ended Dec 31 was $14.3 million, up from $4.1m in the same six months a year earlier.Earnings before interest and tax (ebit) came in at $22.6m, up from $8.5m. The company upgraded its guidance four times since the late September annual shareholders' meeting, most recently saying in mid-December that ebit was expected to be between $20m and...

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