Steel and Tube first-half profit rises 14 percent , sees stronger second half

Thu, 14 Feb 2013

Feb. 15 (BusinessDesk) – Steel & Tube Holdings, the building products firm whose majority shareholder exited its holding in October, posted a 14 percent gain in first-half profit and expects second half results to exceed those in the first six months of the year. Profit rose to $7.29 million, or 8.3 cents a share, in the six months ended Dec. 31, from $6.37 million, or 7.2 cents a year earlier, the Wellington-based company said in a statement. Sales fell 1.6 percent to $199.6 million. The shares rose 1.2 percent to $2.57 and have more than r...

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