Steel & Tube has reported a solid performance for the 12 months ended June 30 2024.
The company's audited results showed a 21.1% decline in volume to 115,500 tonnes, while revenue was down 18.7% to $479.1 million.
Steel & Tube's chief executive, Mark Malpass, attributed the decrease in activity to the impact of economic conditions on industry demand.
Despite the challenges, the company said its margins were supported by new higher value products and services, and it remained well positioned for future demand growth.
Steel & Tube also highlighted its strengthened core business model and robust balance sheet, which would enable it to fund growth.
A final dividend of 2 cents per share, fully imputed, was declared.
The company's board has established a dividend reinvestment programme.
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