Steel & Tube 1H22 Interim Results Announcement

Steel & Tube Holdings Limited has reported record revenue and earnings for the six month period to 31 December 2021.

Revenue of $282.2m was up 25% on the prior comparative period (pcp), with strong trading before and after the August/September Covid-19 lockdown.

EBITDA of $31.9m was up 87.3% on pcp, EBIT of $22.6m was up 166% on pcp and net profit after tax of $14.3m was up 253% on 1H21.

An interim dividend of 5.5 cents per share was declared (1H21: 1.2cps).

CEO Mark Malpass commented: “We have been disciplined in our focus on customers and product mix, targeting products and sectors that have allowed us to improve our overall margins.” The company is hosting an Investor and Analyst Call today to discuss the half year result.