NZ's Steel & Tube Holdings hits over 2-year high on upbeat FY21 outlook

Steel & Tube Holdings

21/07/2021 01:33

** Shares of steel products maker Steel & Tube Holdings Ltd
 STU.NZ  gain as much as 5.3% to NZ$1.2, their highest since May
17, 2019
    ** Co sees FY reported earnings before interest and taxation
(EBIT) between NZ$20 mln-NZ$22 mln ($13.84 mln-$15.23 mln),
including non-trading benefits of NZ$2.8 mln which will be
normalised, compared with NZ$0.4 mln in prvs year
    ** STU expects to pay a final dividend in September,
consistent with its dividend policy  urn:newsml:reuters.com:*:nNZW1Trqpb
    ** Stock posts its biggest intraday percentage gain since
Feb. 4
    ** About 181,000 shares change hands, compared with the
30-day average volume of about 82,000 shares
    ** STU had risen 22.6% this year, as of last close
($1 = 1.4447 New Zealand dollars)

 (Reporting by Aditya Munjuluru in Bengaluru)
 ((aditya.srivastsav@thomsonreuters.com))