Today Steel & Tube has announced its results for the year ended 30 June 2023, reporting our second highest revenue result (following last year’s super cycle result) and record operating cashflows.
You can read our annual report and results announcement here https://steelandtube.co.nz/investor-centre.
Steel & Tube’s solid performance, despite economic headwinds, demonstrates the value in our dual pathway strategy – strengthening the core and investing in higher value products, services and sectors.
We’ve completed a lot of work in the last few years to strengthen our business foundation and our customer value proposition. We’ve embedded strong operational processes and disciplines, implemented a great digital and ecommerce platform, and have New Zealand’s most comprehensive range of steel products and solutions. We’ve been focussed on building a great team of people in our business, and our customers like what we’re doing. Our customer satisfaction scores are above industry average.
Going forward, we will continue to strengthen our core foundation, and also continue to grow and add value to our business. We’re investing in high value products, sectors and services, through either expanding our current offer, launching new offers or through acquisition.
Steel is one of the world’s most essential and sustainable building products – permanent, forever reusable and the most recycled substance on the planet. For many construction applications, steel is the only choice and it offers a number of advantages in a future where climate change and extreme weather events are likely to become more common.
We have proven expertise and capability to deliver for climate resilience projects such as port rebuilds, wind and solar energy developments, coastal protection and resilient buildings. We are also well positioned to support New Zealand’s infrastructure rebuild, including essential water services, and the cyclone and floods rebuild over the next few years.
We are excited about the opportunities ahead of us to grow our business and deliver value for our shareholders.