Steel & Tube blames recessionary economy for $24.4m loss

Steel & Tube says its positioned for a market recovery. (Image: Supplied)

Mon, 25 Aug 2025

Steel & Tube’s full-year result has reflected a fall in demand for steel and lower pricing, with the company posting a $24.4 million loss. Economic conditions challenged the company’s result, it said.Debt increased by $27.6m to $36.3m, revenue fell by more than $93m to $385.3m, and earnings before interest and tax were negative, at -$25.9m. That debt included $30m for its Perry Metal Protection acquisition.It said on Monday that buying New Zealand’s largest and most modern galvanising operation had deli...

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