Steel & Tube lifts profit 15% as Tata Steel acquisition boosts sales

Thu, 14 Aug 2014

By Suze Metherell Aug. 15 (BusinessDesk) - Steel & Tube, which manufacturers steel building products, lifted annual profit 15 percent as its sales were boosted from its April purchase of a stainless steel goods maker. Profit rose to $17.9 million, or 20.4 cents a share, in the 12 months ended June 30, from $15.6 million, or 17.8 cents, a year earlier, the Lower Hutt-based company said in a statement. Sales increased to $441.4 million from $393 million, in part boosted by a $12.9 million contribution from its new business, S&T Stainless....

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