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Hot Topic Hawke’s Bay
Hot Topic Hawke’s Bay
Investment
3 mins to read

Steel & Tube on the hunt for ‘bolt-on’ acquisitions

The company says it’s reviewing multiple targets at any one time.

Key points
  • Revenue: Down 17% to $261.8m
  • Net profit: Down 55% to $5.3m.
  • Key takeaway: The company is looking at range of potential businesses to acquire.

Armed with a strong balance sheet, Steel & Tube is on the acquisition trail and is looking out for firms that can help accelerate its growth.

The building products firm, fresh off reporting a much-reduced half-year profit on the prior year, told investors during this morning’s earnings call that

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Nicholas Pointon Tue, 20 Feb 2024
Contact the Writer: nicholas@nbr.co.nz
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Key points
  • Revenue: Down 17% to $261.8m
  • Net profit: Down 55% to $5.3m.
  • Key takeaway: The company is looking at range of potential businesses to acquire.
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Steel & Tube on the hunt for ‘bolt-on’ acquisitions
Investment,
102789
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