Reuters reported that New Zealand steel products maker Steel and Tube Limited reported a 23% fall in full year profit and said it expected subdued trading activity in the near term.

The company said net profit after tax for the year to June 30th 2012 was NZD 13.1 million as compared with NZD 17 million for 2011.

Analysts expected a profit of around NZD 13.4 million.

Steel and Tube said in February 2012 that it expected the second half of the just ended financial year should match or slightly better the first half's NZD 6.4 million profit.

It declared a dividend of 6.5 cents per share, compared with 5.5 cents in 2011.

Source - Reuters

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