Steel & Tube turnaround continues with 49% jump in first-half net profit

Sun, 17 Feb 2019

By Jenny Ruth Feb. 18 (BusinessDesk) - Steel & Tube Holdings believes it is on the road to recovery, reporting a 48.7 percent jump in first-half net profit and delivering operating profit in line with previous guidance. It will resume paying dividends, reflecting a “solid improvement in cash flows to $11.1 million.” That compares with a negative $16.4 million cash outflow in the six months ended June 2018. Nevertheless, the company still has some way to go to fully convince investors - and regulators - it has put its past behind it....

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