New Zealand’s Steel & Tube ahead of its Annual Shareholders’ Meeting said “2023 Financial Year trading through July and August has been steady across most sectors with earnings supported by operational and trading disciplines. Whilst local and global economic volatility is expected to continue, Steel & Tube is well positioned to deliver through the economic cycle. Steel pricing is expected to remain elevated in the near term. Customer activity is anticipated to be steady although in some sectors will moderate off the recent extraordinary high demand levels, as is already being seen.”Last year was impacted by the Nationwide Alert Level 4 Lockdown on 17 August. In FY23, for the 34 days to 17 August 2022, revenue was up 15% while volumes remained at the same level as last year.
New Zealand’s Steel & Tube ahead of its Annual Shareholders’ Meeting said “2023 Financial Year trading through July and August has been steady across most sectors with earnings supported by operational and trading disciplines. Whilst local and global economic volatility is expected to continue, Steel & Tube is well positioned to deliver through the economic cycle. Steel pricing is expected to remain elevated in the near term. Customer activity is anticipated to be steady although in some sectors will moderate off the recent extraordinary high demand levels, as is already being seen.”Last year was impacted by the Nationwide Alert Level 4 Lockdown on 17 August. In FY23, for the 34 days to 17 August 2022, revenue was up 15% while volumes remained at the same level as last year.
