Friday 30th September 2022 |
Text too small? |
Steel & Tube Holdings Limited (NZX: STU ) is providing a trading update ahead of its Annual Shareholders’ Meeting being held in Auckland today at 10:30am.
2023 Financial Year (FY23) trading through July and August has been steady across most sectors with earnings supported by operational and trading disciplines.
Last year was impacted by the Nationwide Alert Level 4 Lockdown at 11:59pm 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.
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.
The company will be discussing its progress and growth strategy at today’s Meeting. A copy of the presentation and speeches will be provided to the NZX at the Meeting’s commencement.
ENDS
Steel & Tube - Trading Update - September 2022
No comments yet
May 15th Morning Report
Global Esports and game development landscape fast changing
PCT - Precinct FY24 Third Quarter Dividends
Just Life Group Limited buyback offer opens
Meridian Energy monthly operating report for April 2024
May 14th Morning Report
WCO - James Redmayne to resign from executive role
Fletcher Building Market Update
Devon Funds Morning Note - 13 May 2024
GTK - Half-Year Results Investor Briefing Details