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Faint manufacturing uptick a pleasing sign for Steel & Tube

Green shoots evident, but CEO says bipartisan infrastructure push will even further charge slow and steady recovery.

Steel & Tube CEO Mark Malpass.

Dita De Boni Mon, 26 Aug 2024
Key points
  • Revenue: Down 19% to $479.1 million for year ended June 30, 2024.
  • Profit: Down 85% to $2.6m.
  • Main takeaway: CEO Mark Malpass is optimistic about an increase in activity over the next year, following a noticeable downturn.

Steel & Tube chief executive Mark Malpass says manufacturing clients he has spoken to in the past few weeks are seeing an increase in quoting for jobs they’re bidding for, and that, combined with new infrastructure announced by the Government, gives him confidence of better metrics in calendar

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Dita De Boni Mon, 26 Aug 2024
Contact the Writer: dita@nbr.co.nz
News tip? Question? Typo? Let us know: editor@nbr.co.nz
© All content copyright NBR. Do not reproduce in any form without permission, even if you have a paid subscription.
Key points
  • Revenue: Down 19% to $479.1 million for year ended June 30, 2024.
  • Profit: Down 85% to $2.6m.
  • Main takeaway: CEO Mark Malpass is optimistic about an increase in activity over the next year, following a noticeable downturn.
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Faint manufacturing uptick a pleasing sign for Steel & Tube
Investment,
105536
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