Steel & Tube says FY25 first four months challenging

(Image: Steel & Tube)

Thu, 28 Nov 2024

Steel & Tube says that challenging market conditions are still having an impact.“The tough economic conditions have continued into the 2025 financial year, and from July to October we saw a deterioration in the market,” chief executive Mark Malpass said in speech notes for the annual shareholders’ meeting.“As a result of these weaker trading conditions, our year-to-date revenue and earnings were both very soft.”The company said total revenue fell $141.7 million in the four months to Oct 31 versus $183.3m in the...

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