Steel & Tube Holdings reports improved financial results
New Zealand-based steel producer and distributor Steel & Tube Holdings has recently posted financial results regarding full year ended on June 30, 2004.
Accordingly, net profit of the company has increased by 32% to NZ$28.5 million ($18.8 million) against NZ$21.5 million ($14.2 million) recorded in the previous fiscal year.
The company reported its sales revenue as NZ$387.8 million ($257 million), up by 18.7% against sales revenue recorded in the previous fiscal year.
The improved results are attributed to strong demand from
construction sector and increased consumer spending.