Infrastructure

Steel & Tube annual operating profit to be up more than 69%

Jenny Ruth
Mon, 16 May 2022

Steel & Tube annual operating profit to be up more than 69%
Chief executive Mark Malpass said structural changes are well embedded. (Image: Steel & Tube)
Jenny Ruth
Mon, 16 May 2022
Steel & Tube said its strong first-half performance continued into the current six months and it's now expecting normalised operating profit for the full year to be up more than 69%.The steel products distributor expects earnings before interest, tax, depreciation and amortisation (ebitda) to be not less than $64 million, up from $37.9m the previous year, and that ebit will be not less than $45m, up from $19m.Revenue for the 10 months ended April was up 24.6% at $479.2m from the same months a year earlier, ebitda up 81.6% at $53.6m and...

Not convinced yet?

Subscribe to our Daily News Update free newsletter.

My Net Worth FREE
My Net Worth: Zac Stephenson, managing director, MediaCom
Daniel Dunkley | Sun, 03 Jul 2022

MediaCom managing director Zac Stephenson says he's proud of surviving in the media industry, which can be stressful and intense. 

Finance FREE
Money Answers: what's the best share investing strategy in a recession?
Frances Cook | Sat, 02 Jul 2022

Spreading your money through good quality companies, then leaving it alone for a few years is the boring but most likely way to build wealth for most of us. 

On the Money
On The Money: Air NZ's feeding frenzy, Kerry Prendergast's movie date, and more
Pattrick Smellie | Sat, 02 Jul 2022

In this week's OTM: Greg Foran's preference for pies, Kerry Prendergast's future at the film commission, a blast from the past from Enable Networks, and more...

Sponsored
Digital innovation could shape the future of NZ

The digital age allows us to collaborate on some of our greatest scientific and environmental challenges

Sponsored
Investments to sustain the momentum of building in NZ

Classic Capital has opened its Land & Build fund to qualified wholesale and eligible investors.