Steel & Tube’s underlying profit fall was even worse than it seemed
Steel & Tube's reported 20.5% rise in annual net profit belies an even poorer underlying result than first appears and the company is brushing off any concerns its high-profile quality problems will have any lasting effect.
Jenny Ruth Mon, 15 Aug 2016
Steel & Tube’s 9.3% fall in underlying annual net profit would have been even worse without the impact of productivity and cost savings and the purchase of the MSL business in August last year.
These contributed $7.7 million to the $30.5 million of earnings before interest and tax (ebit) that
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