Steel & Tube plans for recession despite strong Q1

Thu, 01 Oct 2020

Steel & Tube Holdings' trading through the first quarter of the current financial year has been stronger than expected but the company is still planning for a recession, chief executive Mark Malpass told the annual shareholders' meeting."Trading in the first quarter of 2021 has been stronger than anticipated to date. This recovery reflects a level of resilience in the economy at present, supported by the government's wage subsidy scheme," Malpass said."Construction activity continues to be impacted by softer verti...

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