Steel & Tube pips forecast in push for higher value

(Image: Steel & Tube)

Tue, 18 Jul 2023

Steel & Tube Holdings will report underlying earnings at or above its previous forecast, with its push to sell higher-value products paying off. The steel products distributor eked out wider gross margins per tonne, albeit on softer sales volumes, in the 12 months ended June 30 and said it expected to report normalised earnings before interest and tax (Ebit) of $31 million-to-$32m. That strips out a $1.1m cost largely relating to software and is at the upper end of its $28m-to-$32m forecast provided in May. That compares to t...

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