New Zealand Steel Tube yearly profit up by 16pct YoYNews Classification:
New Zealand Steel Tube yearly profit up by 16pct YoY
Thursday, 13 Aug 2009
New Zealand based steel maker Steel and Tube Ltd reported a 16% rise in full year profit on Thursday, but said it expected a tougher year ahead.
The company said net profit after tax for the year to June 30 was NZD 26.1 million as compared with NZD 22.5 million a year earlier.
Steel and Tube said it had seen considerable volatility over the past year, with soft trading expected to continue in the first half of the 2010 financial year.