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

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)
Rebecca Stevenson
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...

More Markets

Ebos buys Vital Petfoods assets from receiver
Markets

Ebos buys Vital Petfoods assets from receiver

Distressed assets have been snapped up by the pet food maker.

Denise McNabb 18 Apr 2025
Tourism Holdings and inflation updates drive NZX up
Markets Market close

Tourism Holdings and inflation updates drive NZX up

Tourism Holdings could be one of the most directly impacted shares of the US tariffs.

Tom Raynel 17 Apr 2025
Heartland Bank accountant fined over insider trading
Markets

Heartland Bank accountant fined over insider trading

A former Heartland Bank accountant has been sentenced to six months’ home detention and ordered to pay a fine after pleading guilty on three charges relating to insider trading.Kevin Young, a former treasury accountant with Heartland Bank, purchased Heartland Group Holdings Limit...

Staff reporters 17 Apr 2025
Potential Mainland buyers may soon tap regulators
Primary Sector

Potential Mainland buyers may soon tap regulators

Fonterra's divestment process is gaining traction.

Riley Kennedy 17 Apr 2025