Steel and Tube FY profit rises 19 percent as costs fall more than sales

Thu, 15 Aug 2013

Aug. 16 (BusinessDesk) – Steel & Tube Holdings, the steel building products firm whose majority shareholder exited its holding last October, posted a 19 percent gain in full-year profit, meeting estimates, as costs fell more than sales. Profit was $15.6 million, or 17.8 cents a share, in the 12 months ended June 30, from $13.1 million, or 14.9 cents, a year earlier, the Lower Hutt-based company said in a statement. Sales fell to $393 million from $405 million. Profit of $15.3 million was expected, according to First NZ Capital. Steel & Tube...

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