NZ's Steel & Tube Holdings gains on earnings guidance upgrade

Steel & Tube Holdings

01/02/2024 01:18

** Shares of Steel & Tube Holdings  STU.NZ  rise 4.4% to
NZ$1.19, set for best day since Jan 12, if gains hold
    ** Steel solutions provider expects HY financial results to
be at the top end of the guidance previously provided on 11 Dec.
    ** Sees 1H Normalised EBIT slightly above NZ$11 million 
($6.73 million), compared to previous guidance of NZ$10 mln -
NZ$11 mln
    ** Stock up 5.6% YTD as of last close
 


($1 = 1.6340 New Zealand dollars)

 (Reporting by Ayushman Ojha in Bengaluru)
 ((Ayushman.ojha@thomsonreuters.com;))