Brief: Steel & Tube Expects FY20 Normalised EBIT To Be Loss Of About NZ$5M To NZ$7M

Steel & Tube Holdings

09/08/2020 21:53

Aug 10 (Reuters) - Steel & Tube Holdings Ltd  STU.NZ :
    * FY20 NORMALISED EBIT EXPECTED TO BE ABOUT BREAK-EVEN
    * COVID-19 PANDEMIC AND LOCKDOWN HAVE HAD A SIGNIFICANT
IMPACT ON
FY20 RESULTS
    * FY20 NORMALISED EBIT IS EXPECTED TO BE A LOSS OF ABOUT
NZ$5M TO
NZ$7M
    * SEES INVENTORY REDUCED TO APPROXIMATELY NZ$101M AT 30 JUNE
    * SEES SIGNIFICANT LOSS FOR FY20 AFTER INCLUDING NZ$37M
NON-CASH
IMPAIRMENT OF GOODWILL RECOGNISED IN 1H20

Source text for Eikon:  ID:nNZW6MS3gB 
Further company coverage:  STU.NZ 

 ((Reuters.Briefs@thomsonreuters.com;))