Sharechat Logo

Steel & Tube first-half profit up 165% to $8.4m

Thursday 10th February 2011

Text too small?

Steel & Tube lifted half year net profit 165% to $8.4 million, with revenue similar to a year earlier at $190.5 million.

In the six months to the end of December, volumes rose 6% from a year earlier as the economy improved slowly, the company said today.

Strong competition continued and despite higher prices than in the previous six months, prices were still below those of the same period last year.

"Most market sectors saw marginal improvements through a period of significant volatility from month on month with October particularly slow."

A fully imputed interim dividend of 6c per share is to be paid.

Steel & Tube said it expected second half year results would be similar to those of the first six months.

It expected to see a slow and gradual improvement in activity across most sectors, except commercial construction where further short-term contraction was expected.

Some improvement in performance was expected from internal initiatives.



  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

Tourism Holdings Limited (NZX: THL) thl to acquire MaxiTRANS NZ
NZ Compare announces the acquisition of PriceMe
25th January 2022 Morning Report
Fonterra Shareholders Fund (NZX: FSF) Fonterra lifts forecast Farmgate Milk Price range
Green Cross Health Limited (NZX: GXH) Trading update
Ebos Group Limited (NZX: EBO) Retail Offer Oversubscribed
24th January 2022 Morning Report
ArborGen Holdings Limited (NZX: ARB) Updates Market on FY22 Guidance
My Food Bag Group Limited (NZX: MFB) Q3 FY22 Trading Update
ikeGPS Group Limited (NZX: IKE) signs $0.9m deal with tier-1 electric utility