Steel & Tube expects 1H ebit to be up at least 91%

Fri, 19 Nov 2021

Steel & Tube said it expects first-half earnings before interest and tax (ebit) to be at least 91% higher than the previous first half, reflecting improving market conditions, margin expansion and falling operating costs.The steel products distributor said it expects ebit to be above $17 million for the six months ended December, up from $8.9m in the previous first half.It expects earnings before interest, tax, depreciation and amortisation will be at least $26.5m, up from $16.8m.The company said the guidance assumes no return to lockdowns...

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