NZ's Steel & Tube hits over 1-month high on robust HY earnings, outlook

Steel & Tube Holdings

23/02/2022 01:37

** Shares of Steel & Tube Holdings  STU.NZ  rise as much as
3.7% to NZ$1.67, hits highest level since Jan 19
    ** The steel products maker posts HY net profit after tax of
NZ$14.3 mln ($9.67 mln) vs NZ$4.1 mln last year  urn:newsml:reuters.com:*:nNZSdfja
    ** Declares interim dividend of 5.5 NZ cents/share
    ** Expects strong steel demand to continue; sees increased
investments in H2
    ** Stock marks best day since Feb 10
    ** More than 160,000 shares change hands, compared with the
30-day average volume of about 148,000 shares
    ** Stock has risen 3.9% this year, as of last close


($1 = 1.4786 New Zealand dollars)

 (Reporting by Jaskiran Singh in Bengaluru)
 ((Jaskiran.Singh@thomsonreuters.com;))