Steel & Tube Holdings Limited (NZX: STU) has reported its unaudited interim results for the six months to 31 December 2022, showing a second consecutive record first half revenue result and continued strong earnings.
Revenue increased by 11.7%, with EBITDA and EBIT slightly down on the prior comparative period (pcp).
Gross margin was 21.7%, with gross margin dollars per tonne increasing to $850 per tonne.
Inventory is being reduced as supply chain headwinds ease.
The company has a substantial bank facility in place to fund growth and is focused on its ‘strengthen and grow’ strategies.
A fully imputed dividend of 4 cents per share has been declared, equivalent to the 1H22 unimputed dividend of 5.5 cps.
CEO Mark Malpass commented that Steel & Tube is well positioned to respond to moderating demand.
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