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Infrastructure

Steel & Tube expects annual ebit of up to $22m

Staff reporters
Wed, 21 Jul 2021

Steel & Tube said it expects to report earnings before interest and tax for the year ended June between $20 million and $22m, including one-off property-related gains of $2.8m.The steel products distributor reported normalised ebit of $7.6m for the six months ended December after reporting annual ebit of just $400,000 last year."We are seeing the benefits of our strategic initiatives, including improved customer service and delivery, investment in digital and a significant reduction in the company's underlying cost structure,"...

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