New Zealand’s Steel & Tube Holdings Limited has reported record half year revenue and earnings driven by strong sector demand, focus on customer service, operational performance and disciplined supply chain management. Steel & Tube Holdings CEO Mr Mark Malpass said “Steel & Tube has traded well during the period, delivering solid volume and sales growth and margin improvements, while continuing to invest into the business, our workforce and growth opportunities. The priority over the last six months has been on maintaining availability of critical products and high levels of service for customers while navigating global steel mill and supply chain constraints, a higher pricing environment and Covid-19 restrictions.”------------Highlights------------Revenue of NZD 282.2 million, up 25% YoY, with strong trading pre and post the Covid-19 lockdown in August and September 2021EBITDA of NZD 31.9 million, up 87.3% YoYEBIT of NZD 22.6 million, up 166% YoYNet profit after tax of NZD 14.3 million, up 253% YoYOutlook - The strong demand for steel is expected to continue. Commercial building and manufacturing sectors are both expanding, and infrastructure is benefitting from Government investment and spending, while the current residential activity is expected to be maintained in the short term. No significant change in sector headwinds (supply chain, labor, and supplier costs) is anticipated in the next six months.
New Zealand’s Steel & Tube Holdings Limited has reported record half year revenue and earnings driven by strong sector demand, focus on customer service, operational performance and disciplined supply chain management. Steel & Tube Holdings CEO Mr Mark Malpass said “Steel & Tube has traded well during the period, delivering solid volume and sales growth and margin improvements, while continuing to invest into the business, our workforce and growth opportunities. The priority over the last six months has been on maintaining availability of critical products and high levels of service for customers while navigating global steel mill and supply chain constraints, a higher pricing environment and Covid-19 restrictions.”------------Highlights------------Revenue of NZD 282.2 million, up 25% YoY, with strong trading pre and post the Covid-19 lockdown in August and September 2021EBITDA of NZD 31.9 million, up 87.3% YoYEBIT of NZD 22.6 million, up 166% YoYNet profit after tax of NZD 14.3 million, up 253% YoYOutlook - The strong demand for steel is expected to continue. Commercial building and manufacturing sectors are both expanding, and infrastructure is benefitting from Government investment and spending, while the current residential activity is expected to be maintained in the short term. No significant change in sector headwinds (supply chain, labor, and supplier costs) is anticipated in the next six months.
