Steel & Tube's $43.5m Perry acquisition; where it expects to boost both businesses

Steel & Tube CEO Mark Malpass is on the hunt for more business buys. (Image: Steel & Tube)

Mon, 24 Feb 2025

Steel & Tube is eyeing further acquisitions as steel demand hits lows not seen since the 1990s. On Monday, the New Zealand Exchange (NZX) listed firm reported a $10.39 million loss for the six months to Dec 31 compared to a $5.3m profit a year ago. Revenue fell 25% to $196m, normalised earnings before interest and tax fell 184% year on year to -$9.5m. It had net cash of $17.5m and a $100m bank facility, “providing resilience and optionality for investment in growth”. Chief executive Mark Malpass said ste...

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