Steel & Tube has announced its half year result. It was another period of strong performance with record half year revenue and strong earnings. A big thank you to our team who continue to deliver day in and day out for our customers and shareholders. Our results announcement, presentation and half year report can all be viewed here.
Following the recent ‘super cycle’, we are well positioned to respond to moderating demand. We have a strong balance sheet and cashflows, and are actively managing costs and margins per tonne. Customer and employee satisfaction remains at high levels and we are a preferred supplier for projects large and small across a diverse range of industries.
We are seeing significant value from our ‘strengthen and grow’ strategies. Our recent growth investments are performing well and we are continuing to assess new opportunities that complement our existing business and provide growth pathways. With a strong balance sheet, we are well capitalised to continue with our growth investments.
Most recently, from February 2023, we entered the aluminium market with a select range of high demand, high value products, largely servicing existing customers. This product diversification provides scale, customer share of wallet growth and is immediately earnings accretive.
We continue to focus on delivering for our customers, our team and our shareholders.
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