NZ's Steel & Tube scales 3-year high on strong earnings outlook

Steel & Tube Holdings

14/12/2021 22:04

** Shares of Steel & Tube Holdings  STU.NZ  jump as much as
10.2% to NZ$1.51, their highest since Oct. 17, 2018
    ** The steel products maker expects 1H FY22 EBITDA between
NZ$30 mln and NZ$32 million ($20.22 mln and $21.57 mln), vs a
normalised EBITDA of NZ$16.8 mln a year earlier  urn:newsml:reuters.com:*:nNZW3DSZZx 
    ** Says group revenue increased 22% in the first five months
of the financial year
    ** STU set for biggest one-day percentage rise since Dec.
18, 2020
    ** About 334,000 shares have been traded, vs the 30-day
average of 140,000 shares 
    ** Stock has added 47.3% so far this year, as of last close 
    



($1 = 1.4835 New Zealand dollars)

 (Reporting by Harshita Swaminathan in Bengaluru)
 ((Harshita.Swaminathan@thomsonreuters.com))