Steel & Tube first half operating profit eases 0.6%

Steel & Tube first half operating profit eases 0.6%
CEO Mark Malpass says his company is well positioned. (Image: Steel & Tube)
Jenny Ruth
Steel & Tube appears to be weathering the woes afflicting its competitors, reporting just a 0.6% drop in normalised operating profit and saying demand remains solid.Net profit was down 17.5% to $11.8 million for the six months that ended December as an improvement in profit margin was offset by inflation and depreciation.The steel products distributor’s normalised earnings before interest, tax, depreciation and amortisation (Ebitda) of $31.6m compared with $31.8m in the previous first half.Sales were up 11.7% to $315.3m, while sales v...

More Infrastructure

The Great Expectations on Kāinga Ora and KiwiRail
Policy

The Great Expectations on Kāinga Ora and KiwiRail

The Government is continuing to refresh boards and fire up expectations.

Port of Tauranga a 'slow follower' on price hikes
Infrastructure

Port of Tauranga a 'slow follower' on price hikes

Forsyth Barr has upgraded its outlook from 'neutral' to 'outperform'.

Manukau Harbour port study takes its sweet time
Infrastructure

Manukau Harbour port study takes its sweet time

Winston called it ludicrous. Now it's late.

Oliver Lewis 02 Jul 2024