Steel & Tube writes off remaining goodwill as tough trading persists

Steel & Tube writes off remaining goodwill as tough trading persists
Paul McBeth
Steel & Tube Holdings has written off the remaining $37 million of goodwill attached to businesses it had acquired as less high-rise construction and soft demand for stainless steel weighed on sales. The stainless steel products maker said earnings before interest and tax was a loss of $36 million to $37 million in the six months ended Dec. 31, due largely to the impairment charge. Stripping out the impairment charge and restructuring costs, earnings dropped to between $2 million and $3 million from $9.6 million a year earlier, with sales...

More Infrastructure

Port of Tauranga ‘reluctantly’ doubles MetroPort rail fees
Primary Sector

Port of Tauranga ‘reluctantly’ doubles MetroPort rail fees

The port says it's working with KiwiRail on 'long-term arrangements'. 

Oliver Lewis 04 Jul 2025
‘Bluewater backbone’: Lyttelton, Auckland ports plan $1b+ of upgrades
Policy

‘Bluewater backbone’: Lyttelton, Auckland ports plan $1b+ of upgrades

Two of the biggest NZ ports are raising prices as they plan major investments.

Oliver Lewis 02 Jul 2025
Cost of Ōtaki to north of Levin highway nears $2b
Infrastructure

Cost of Ōtaki to north of Levin highway nears $2b

In 2020, the lower North Island expressway was costed at just $817m.

Oliver Lewis 01 Jul 2025
The keys to unlocking Northport's land value
Infrastructure

The keys to unlocking Northport's land value

MMH's land is valued at five times less than its next-door neighbour, Channel.

Ian Llewellyn 30 Jun 2025