Steel & Tube: from $60m loss to $16m profit

Steel & Tube: from $60m loss to $16m profit
Chief executive Mark Malpass expects further margin improvement. (Image: supplied)
Jenny Ruth
Steel & Tube's annual profit came in at the top end of its upgraded guidance and it expects to build on current earnings momentum.The steel products distributor reported a net profit of $16.1 million for the year ended June, a turnaround from the $60m net loss it reported the previous year and up on the $10.4m reported in 2019.Earnings before interest and tax came in at $21.8m compared with a $57.7m loss the previous year and compared with guidance of $20m to $22m.Revenue was up 15% to $480m, though it was still below 2019 revenue of $4...

More Infrastructure

RMA replacements to end 'culture of no'
Policy

RMA replacements to end 'culture of no'

The Government looks to Japan as it unveils two replacement planning laws.

Oliver Lewis 24 Mar 2025
Rebuild opportunities in Christchurch coming to market
Infrastructure

Rebuild opportunities in Christchurch coming to market

The Crown wants to divest three sites, including a residential super lot.

Oliver Lewis 24 Mar 2025
Heavy seas damage blades destined for Antarctic windfarm
Infrastructure

Heavy seas damage blades destined for Antarctic windfarm

Five of nine blades had to be returned to NZ after heavy seas in the Southern Ocean.

Oliver Lewis 21 Mar 2025
Pre-construction contractor sought for Antarctica
Policy

Pre-construction contractor sought for Antarctica

Antarctica NZ has gone to market for early works on its reset Scott Base build.

Oliver Lewis 20 Mar 2025